DnB Asset Management AS Grows Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

DnB Asset Management AS increased its position in shares of Sunrun Inc. (NASDAQ:RUN) by 16.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,669,110 shares of the energy company’s stock after acquiring an additional 652,977 shares during the period. DnB Asset Management AS owned about 2.17% of Sunrun worth $83,390,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Sunrun by 2.1% during the third quarter. Vanguard Group Inc. now owns 18,530,332 shares of the energy company’s stock worth $511,252,000 after acquiring an additional 375,166 shares during the period. Orbis Allan Gray Ltd grew its stake in Sunrun by 7.8% during the 1st quarter. Orbis Allan Gray Ltd now owns 13,168,939 shares of the energy company’s stock worth $265,354,000 after purchasing an additional 953,877 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Sunrun by 64.2% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 11,514,410 shares of the energy company’s stock worth $232,015,000 after buying an additional 4,501,071 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Sunrun by 99,711.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,455,287 shares of the energy company’s stock worth $251,136,000 after buying an additional 10,444,812 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Sunrun by 13.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,403,578 shares of the energy company’s stock valued at $169,332,000 after acquiring an additional 1,015,603 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Stock Performance

Shares of NASDAQ:RUN traded up $1.42 on Thursday, reaching $15.58. The company’s stock had a trading volume of 6,272,533 shares, compared to its average volume of 9,067,407. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.47 and a quick ratio of 0.91. Sunrun Inc. has a 52-week low of $13.30 and a 52-week high of $39.13. The stock’s 50-day moving average is $17.07 and its two-hundred day moving average is $18.42. The stock has a market capitalization of $3.38 billion, a P/E ratio of 39.89 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.34) by $0.59. Sunrun had a return on equity of 1.18% and a net margin of 3.66%. The firm had revenue of $590.20 million during the quarter, compared to the consensus estimate of $627.73 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling

In other news, CFO Danny Abajian sold 2,030 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total transaction of $30,754.50. Following the transaction, the chief financial officer now directly owns 214,943 shares in the company, valued at $3,256,386.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Danny Abajian sold 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $15.15, for a total value of $30,754.50. Following the completion of the sale, the chief financial officer now directly owns 214,943 shares of the company’s stock, valued at approximately $3,256,386.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary Powell sold 1,744 shares of Sunrun stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $15.79, for a total value of $27,537.76. Following the completion of the sale, the chief executive officer now owns 410,900 shares in the company, valued at $6,488,111. The disclosure for this sale can be found here. Insiders sold a total of 48,702 shares of company stock valued at $898,623 over the last three months. 3.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on RUN shares. JPMorgan Chase & Co. lowered their price target on shares of Sunrun from $47.00 to $38.00 in a report on Wednesday, July 19th. Janney Montgomery Scott upgraded shares of Sunrun from a “neutral” rating to a “buy” rating in a research note on Thursday, August 3rd. Barclays cut their price target on Sunrun from $31.00 to $27.00 in a research note on Thursday, July 13th. Guggenheim lowered their price objective on Sunrun from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 24th. Finally, Piper Sandler increased their price objective on Sunrun from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.75.

Sunrun Profile

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; and sells services to commercial developers through multi-family and new homes.