AXS Investments LLC grew its holdings in shares of Sunrun Inc. (NASDAQ:RUN – Free Report) by 39.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,537 shares of the energy company’s stock after acquiring an additional 18,440 shares during the quarter. AXS Investments LLC’s holdings in Sunrun were worth $1,170,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in RUN. Moneta Group Investment Advisors LLC boosted its holdings in Sunrun by 99,711.8% in 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 acquiring an additional 10,444,812 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Sunrun by 64.2% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 11,514,410 shares of the energy company’s stock valued at $232,015,000 after purchasing an additional 4,501,071 shares during the period. Greenvale Capital LLP lifted its holdings in shares of Sunrun by 50.0% in the first quarter. Greenvale Capital LLP now owns 5,850,000 shares of the energy company’s stock worth $117,877,000 after buying an additional 1,950,000 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Sunrun by 22.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,268,938 shares of the energy company’s stock valued at $183,403,000 after buying an additional 1,865,360 shares during the period. Finally, Norges Bank purchased a new stake in Sunrun in the fourth quarter valued at approximately $36,589,000. Institutional investors own 91.69% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on RUN. BNP Paribas assumed coverage on Sunrun in a research note on Friday, October 20th. They issued an “outperform” rating and a $20.00 target price for the company. BMO Capital Markets cut shares of Sunrun from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $17.00 to $12.00 in a report on Thursday, November 2nd. Northland Securities cut shares of Sunrun from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a research note on Thursday, November 2nd. Morgan Stanley cut their target price on Sunrun from $39.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Finally, Janney Montgomery Scott upgraded shares of Sunrun from a “neutral” rating to a “buy” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.27.
Sunrun Trading Up 4.3 %
Shares of Sunrun stock traded up $0.48 on Friday, reaching $11.67. The company had a trading volume of 9,970,517 shares, compared to its average volume of 14,739,253. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -2.12 and a beta of 2.45. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.36 and a quick ratio of 0.89. The firm’s 50-day moving average price is $11.48 and its two-hundred day moving average price is $15.45. Sunrun Inc. has a 1 year low of $8.43 and a 1 year high of $33.33.
Insiders Place Their Bets
In other news, insider Jeanna Steele sold 2,233 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total value of $33,829.95. Following the completion of the sale, the insider now owns 249,953 shares in the company, valued at approximately $3,786,787.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jeanna Steele sold 2,233 shares of the 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 $33,829.95. Following the sale, the insider now directly owns 249,953 shares in the company, valued at $3,786,787.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lynn Michelle Jurich sold 4,178 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $14.37, for a total value of $60,037.86. Following the transaction, the director now owns 1,401,182 shares of the company’s stock, valued at approximately $20,134,985.34. The disclosure for this sale can be found here. Insiders sold 19,457 shares of company stock valued at $287,987 over the last three months. 3.76% of the stock is owned by company insiders.
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.
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