Sunrun Inc. (NASDAQ:RUN) Position Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in Sunrun Inc. (NASDAQ:RUN – Get Rating) by 12.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 40,461 shares of the energy company’s stock after purchasing an additional 4,370 shares during the period. Envestnet Asset Management Inc.’s holdings in Sunrun were worth $972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Sunrun by 1.3% in the 4th quarter. State of Alaska Department of Revenue now owns 29,826 shares of the energy company’s stock worth $716,000 after purchasing an additional 390 shares during the period. Captrust Financial Advisors boosted its stake in Sunrun by 6.2% in the 3rd quarter. Captrust Financial Advisors now owns 7,389 shares of the energy company’s stock worth $204,000 after purchasing an additional 431 shares during the period. Nisa Investment Advisors LLC boosted its stake in Sunrun by 64.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,149 shares of the energy company’s stock worth $28,000 after purchasing an additional 449 shares during the period. Profund Advisors LLC boosted its stake in Sunrun by 5.5% in the 4th quarter. Profund Advisors LLC now owns 8,833 shares of the energy company’s stock worth $212,000 after purchasing an additional 457 shares during the period. Finally, Drive Wealth Management LLC boosted its stake in Sunrun by 1.1% in the 4th quarter. Drive Wealth Management LLC now owns 50,967 shares of the energy company’s stock worth $1,224,000 after purchasing an additional 554 shares during the period. Institutional investors and hedge funds own 86.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays cut their target price on shares of Sunrun from $35.00 to $31.00 in a research report on Tuesday, April 18th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Tuesday, April 25th. Wells Fargo & Company cut their target price on shares of Sunrun from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Truist Financial cut their target price on shares of Sunrun from $35.00 to $30.00 in a research report on Monday, May 8th. Finally, TheStreet downgraded shares of Sunrun from a “c-” rating to a “d+” rating in a research report on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.81.

Insider Activity

In other news, CEO Mary Powell sold 1,400 shares of Sunrun 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 in the company, valued at approximately $4,458,724.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sunrun 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 value of $33,222.00. Following the completion of the sale, the chief executive officer now 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 can be accessed 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 shares were sold at an average price of $25.51, for a total transaction of $38,571.12. Following the completion of the sale, the chief accounting officer now directly owns 35,418 shares of the company’s stock, valued at approximately $903,513.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 203,012 shares of company stock worth $4,464,534. Corporate insiders own 4.29% of the company’s stock.

Sunrun Stock Performance

Shares of RUN opened at $16.66 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of 238.03 and a beta of 2.34. Sunrun Inc. has a one year low of $14.55 and a one year high of $39.13. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.81 and a quick ratio of 1.04. The company’s fifty day moving average price is $18.49 and its 200 day moving average price is $23.64.

Sunrun (NASDAQ:RUN – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The energy company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.08). Sunrun had a return on equity of 0.28% and a net margin of 0.86%. The company had revenue of $589.85 million during the quarter, compared to analyst estimates of $517.78 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, analysts expect that Sunrun Inc. will post -1.37 earnings per share for the current year.

Sunrun 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.