Sunrun Inc. (NASDAQ:RUN) Holdings Cut by Citigroup Inc.

Citigroup Inc. decreased its stake in Sunrun Inc. (NASDAQ:RUN – Get Rating) by 80.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 218,749 shares of the energy company’s stock after selling 912,826 shares during the quarter. Citigroup Inc.’s holdings in Sunrun were worth $5,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RUN. Robeco Schweiz AG lifted its stake in shares of Sunrun by 84.6% in the 1st quarter. Robeco Schweiz AG now owns 2,400,000 shares of the energy company’s stock valued at $72,888,000 after purchasing an additional 1,100,000 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Sunrun during the 3rd quarter worth $17,270,000. PGGM Investments acquired a new position in Sunrun during the 3rd quarter worth $14,672,000. Worldquant Millennium Advisors LLC acquired a new position in Sunrun during the 1st quarter worth $15,663,000. Finally, BNP Paribas Arbitrage SA lifted its position in Sunrun by 208.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 610,068 shares of the energy company’s stock worth $18,528,000 after acquiring an additional 412,125 shares during the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 1,400 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $23.73, for a total transaction of $33,222.00. Following the sale, the chief executive officer now directly owns 187,894 shares of the company’s stock, valued at $4,458,724.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mary Powell sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $23.73, for a total transaction of $33,222.00. Following the transaction, the chief executive officer now directly owns 187,894 shares in the company, valued at $4,458,724.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michelle Philpot sold 1,512 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $25.51, for a total transaction of $38,571.12. Following the transaction, the chief accounting officer now owns 35,418 shares in the company, valued at $903,513.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 203,012 shares of company stock valued at $4,464,534. 4.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on RUN. Bank of America boosted their target price on shares of Sunrun from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Royal Bank of Canada cut their target price on shares of Sunrun from $42.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, March 29th. Susquehanna cut their target price on shares of Sunrun from $42.00 to $40.00 in a research report on Thursday, May 4th. BMO Capital Markets cut their target price on shares of Sunrun from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, February 23rd. Finally, Barclays dropped their price objective on shares of Sunrun from $35.00 to $31.00 in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.95.

Sunrun Stock Performance

NASDAQ RUN opened at $14.63 on Friday. The stock has a market cap of $3.15 billion, a P/E ratio of 209.03 and a beta of 2.34. The company’s 50-day simple moving average is $18.79 and its 200 day simple moving average is $23.84. Sunrun Inc. has a twelve month low of $14.55 and a twelve month high of $39.13. The company has a quick ratio of 1.04, a current ratio of 1.81 and a debt-to-equity ratio of 1.20.

Sunrun (NASDAQ:RUN – Get Rating) last posted its earnings results on Wednesday, May 3rd. The energy company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.08). The business had revenue of $589.85 million during the quarter, compared to the consensus estimate of $517.78 million. Sunrun had a net margin of 0.86% and a return on equity of 0.28%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.42) EPS. As a group, research analysts forecast that Sunrun Inc. will post -1.27 earnings per share for the current fiscal year.

Sunrun Company Profile

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Sunrun, Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.