Sunrun Inc. $RUN Stock Position Cut by Ardsley Advisory Partners LP

Ardsley Advisory Partners LP reduced its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,480,000 shares of the energy company’s stock after selling 245,000 shares during the quarter. Sunrun accounts for about 3.0% of Ardsley Advisory Partners LP’s investment portfolio, making the stock its 5th largest holding. Ardsley Advisory Partners LP owned about 0.64% of Sunrun worth $27,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quantbot Technologies LP increased its position in shares of Sunrun by 3,147.1% in the 3rd quarter. Quantbot Technologies LP now owns 153,164 shares of the energy company’s stock worth $2,648,000 after purchasing an additional 148,447 shares during the last quarter. Vanguard Group Inc. raised its stake in Sunrun by 1.2% during the third quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock valued at $418,300,000 after buying an additional 288,945 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Sunrun by 132.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock worth $48,777,000 after acquiring an additional 1,609,803 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Sunrun by 6.7% in the 4th quarter. Handelsbanken Fonder AB now owns 2,314,802 shares of the energy company’s stock valued at $42,592,000 after acquiring an additional 145,285 shares during the last quarter. Finally, LBP AM SA bought a new stake in shares of Sunrun in the 4th quarter valued at approximately $3,307,000. Institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Oppenheimer raised their price target on shares of Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Loop Capital set a $12.00 price target on Sunrun in a research report on Tuesday, March 3rd. Mizuho cut their price target on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $17.00 target price on shares of Sunrun in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.98.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $12.44 on Thursday. Sunrun Inc. has a twelve month low of $5.51 and a twelve month high of $22.44. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. The firm has a 50-day moving average of $13.52 and a two-hundred day moving average of $15.84. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 5.84 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. As a group, analysts expect that Sunrun Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In related news, CFO Danny Abajian sold 2,030 shares of Sunrun stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $13.39, for a total value of $27,181.70. Following the transaction, the chief financial officer owned 438,781 shares of the company’s stock, valued at approximately $5,875,277.59. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 193,002 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $2,557,276.50. Following the sale, the chief executive officer owned 934,282 shares in the company, valued at approximately $12,379,236.50. The trade was a 17.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 694,816 shares of company stock valued at $9,366,473 over the last 90 days. 3.55% of the stock is owned by insiders.

Sunrun Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.