Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Sunrun Inc. (NASDAQ:RUN)

Mirae Asset Global Investments Co. Ltd. grew its position in Sunrun Inc. (NASDAQ:RUNGet Rating) by 11.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 174,884 shares of the energy company’s stock after purchasing an additional 18,076 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sunrun were worth $5,311,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Sunrun by 14.8% during the fourth quarter. BlackRock Inc. now owns 29,631,513 shares of the energy company’s stock worth $1,016,363,000 after buying an additional 3,814,952 shares during the last quarter. Vanguard Group Inc. boosted its position in Sunrun by 0.3% during the first quarter. Vanguard Group Inc. now owns 17,996,518 shares of the energy company’s stock worth $546,554,000 after purchasing an additional 55,863 shares during the period. State Street Corp boosted its position in Sunrun by 3.8% during the fourth quarter. State Street Corp now owns 6,644,379 shares of the energy company’s stock worth $227,902,000 after purchasing an additional 244,354 shares during the period. Invesco Ltd. boosted its position in Sunrun by 2.2% during the fourth quarter. Invesco Ltd. now owns 6,144,419 shares of the energy company’s stock worth $210,753,000 after purchasing an additional 130,641 shares during the period. Finally, Phoenix Holdings Ltd. boosted its position in Sunrun by 23.6% during the first quarter. Phoenix Holdings Ltd. now owns 3,749,077 shares of the energy company’s stock worth $113,901,000 after purchasing an additional 715,830 shares during the period. Hedge funds and other institutional investors own 90.85% of the company’s stock.

Sunrun Trading Down 5.4 %

Shares of Sunrun stock opened at $32.50 on Friday. Sunrun Inc. has a 1 year low of $16.80 and a 1 year high of $60.60. The firm has a market cap of $6.89 billion, a PE ratio of -58.04 and a beta of 2.26. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.73 and a quick ratio of 1.17. The company has a 50 day simple moving average of $32.35 and a two-hundred day simple moving average of $27.90.

Sunrun (NASDAQ:RUNGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The energy company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.14. The firm had revenue of $584.58 million for the quarter, compared to the consensus estimate of $485.04 million. Sunrun had a negative net margin of 5.86% and a negative return on equity of 1.39%. Analysts expect that Sunrun Inc. will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 799 shares of Sunrun stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $37.03, for a total transaction of $29,586.97. Following the transaction, the insider now directly owns 156,392 shares of the company’s stock, valued at $5,791,195.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Lynn Michelle Jurich sold 75,000 shares of Sunrun stock in a transaction on Monday, July 11th. The shares were sold at an average price of $25.33, for a total value of $1,899,750.00. Following the transaction, the insider now directly owns 1,459,226 shares of the company’s stock, valued at $36,962,194.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeanna Steele sold 799 shares of Sunrun stock in a transaction on Monday, September 19th. The stock was sold at an average price of $37.03, for a total transaction of $29,586.97. Following the completion of the transaction, the insider now directly owns 156,392 shares in the company, valued at $5,791,195.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 362,151 shares of company stock valued at $12,352,116. 4.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RUN shares. Wells Fargo & Company started coverage on shares of Sunrun in a research report on Wednesday, June 29th. They set an “equal weight” rating and a $27.00 target price for the company. Piper Sandler increased their target price on shares of Sunrun from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. BMO Capital Markets raised their price objective on shares of Sunrun from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. The Goldman Sachs Group raised their price objective on shares of Sunrun from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Sunrun from $52.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.47.

Sunrun Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding RUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunrun Inc. (NASDAQ:RUNGet Rating).

Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

Receive News & Ratings for Sunrun Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunrun and related companies with MarketBeat.com's FREE daily email newsletter.