New York State Teachers Retirement System Lowers Holdings in Sunrun Inc. $RUN

New York State Teachers Retirement System reduced its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 30.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 178,529 shares of the energy company’s stock after selling 78,063 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Sunrun worth $2,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Invesco Ltd. boosted its stake in shares of Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after buying an additional 1,231,628 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Sunrun by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after acquiring an additional 205,627 shares during the period. Contour Asset Management LLC acquired a new position in Sunrun in the fourth quarter valued at approximately $98,010,000. Voloridge Investment Management LLC boosted its position in Sunrun by 47.3% in the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after purchasing an additional 1,100,666 shares in the last quarter. Finally, Erste Asset Management GmbH boosted its position in Sunrun by 10.7% in the 4th quarter. Erste Asset Management GmbH now owns 3,412,900 shares of the energy company’s stock worth $67,582,000 after purchasing an additional 330,666 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun News Roundup

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: Sunrun launched a distributed AI data center pilot that could let homeowners’ solar and battery systems support edge computing, creating a new business line beyond its core residential solar model. Article Title
• Positive Sentiment: Trading activity showed unusually heavy call option buying, suggesting some investors are betting the AI-related announcement could drive more upside in RUN. Article Title
• Positive Sentiment: Susquehanna trimmed its price target to $18 from $19 but kept a positive rating, which still implies meaningful upside from current levels. Article Title
• Neutral Sentiment: Media coverage around the AI data-center pilot has kept Sunrun in the spotlight, but some reports noted the news has not yet translated into a full stock re-rating. Article Title
• Negative Sentiment: Chief accounting officer Maria Barak sold 3,278 shares in a pre-arranged 10b5-1 transaction, adding to recent insider selling that may weigh on sentiment. Article Title
• Negative Sentiment: Glj Research reaffirmed a sell rating and set a $4.63 target, a sharply bearish call that signals substantial downside risk in the eyes of that firm. Article Title

Insider Transactions at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. Following the completion of the sale, the director directly owned 459,091 shares in the company, valued at approximately $7,308,728.72. The trade was a 9.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 9,897 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $130,541.43. Following the transaction, the insider directly owned 461,715 shares of the company’s stock, valued at $6,090,020.85. The trade was a 2.10% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 223,045 shares of company stock worth $3,081,335 in the last three months. 3.55% of the stock is owned by corporate insiders.

Sunrun Stock Performance

RUN opened at $12.47 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 5.85 and a beta of 2.32. Sunrun Inc. has a 52-week low of $9.01 and a 52-week high of $22.44. The firm’s fifty day simple moving average is $13.66 and its two-hundred day simple moving average is $15.26.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on RUN shares. Jefferies Financial Group cut their target price on shares of Sunrun from $22.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Roth Capital reissued a “buy” rating on shares of Sunrun in a report on Thursday. Susquehanna dropped their price target on shares of Sunrun from $19.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $18.00 price objective on shares of Sunrun in a research report on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.81.

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.