abrdn plc Has $1.84 Million Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

abrdn plc raised its holdings in Sunrun Inc. (NASDAQ:RUNGet Rating) by 196.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,720 shares of the energy company’s stock after purchasing an additional 40,262 shares during the quarter. abrdn plc’s holdings in Sunrun were worth $1,844,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quaero Capital S.A. boosted its holdings in shares of Sunrun by 10.2% in the 1st quarter. Quaero Capital S.A. now owns 97,345 shares of the energy company’s stock valued at $2,956,000 after purchasing an additional 8,997 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Sunrun by 1,279.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 78,916 shares of the energy company’s stock valued at $2,707,000 after purchasing an additional 73,195 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Sunrun by 30.1% in the 4th quarter. Essex Investment Management Co. LLC now owns 282,151 shares of the energy company’s stock valued at $9,678,000 after purchasing an additional 65,269 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Sunrun by 8.6% in the 4th quarter. Pacer Advisors Inc. now owns 22,122 shares of the energy company’s stock valued at $759,000 after purchasing an additional 1,756 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its holdings in shares of Sunrun by 53.4% in the 4th quarter. First Republic Investment Management Inc. now owns 24,030 shares of the energy company’s stock valued at $824,000 after purchasing an additional 8,368 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RUN shares. Wells Fargo & Company started coverage on Sunrun in a report on Wednesday, June 29th. They issued an “equal weight” rating and a $27.00 target price on the stock. Roth Capital cut their price objective on Sunrun from $42.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Morgan Stanley cut their price objective on Sunrun from $89.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, June 13th. The Goldman Sachs Group cut their price objective on Sunrun from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, June 20th. Finally, Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $29.00 in a report on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

Sunrun Stock Performance

RUN stock opened at $30.21 on Tuesday. The stock has a 50-day moving average price of $25.07 and a 200-day moving average price of $25.44. Sunrun Inc. has a 1-year low of $16.80 and a 1-year high of $60.60. The company has a current ratio of 1.60, a quick ratio of 1.08 and a debt-to-equity ratio of 1.03. The firm has a market cap of $6.35 billion, a PE ratio of -43.16 and a beta of 2.29.

Sunrun (NASDAQ:RUNGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The energy company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.35). Sunrun had a negative return on equity of 1.64% and a negative net margin of 8.10%. The business had revenue of $495.78 million during the quarter, compared to the consensus estimate of $401.60 million. During the same period last year, the business posted ($0.11) earnings per share. The business’s revenue was up 48.1% on a year-over-year basis. As a group, equities research analysts expect that Sunrun Inc. will post -1.11 earnings per share for the current year.

Insider Transactions at Sunrun

In other news, insider Lynn Michelle Jurich sold 150,000 shares of Sunrun stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $26.19, for a total value of $3,928,500.00. Following the completion of the transaction, the insider now directly owns 1,467,335 shares of the company’s stock, valued at approximately $38,429,503.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Lynn Michelle Jurich sold 150,000 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $26.19, for a total value of $3,928,500.00. Following the completion of the sale, the insider now directly owns 1,467,335 shares of the company’s stock, valued at approximately $38,429,503.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanna Steele sold 1,458 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $22.62, for a total value of $32,979.96. Following the completion of the sale, the insider now directly owns 159,095 shares of the company’s stock, valued at $3,598,728.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,062 shares of company stock valued at $6,662,928. Corporate insiders own 4.29% of the company’s stock.

About Sunrun

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Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems.

See Also

Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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