Price T Rowe Associates Inc. MD Sells 57,571 Shares of Sunrun Inc. (NASDAQ:RUN)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176,158 shares of the energy company’s stock after selling 57,571 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Sunrun were worth $1,630,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in Sunrun during the 4th quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. increased its stake in shares of Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after purchasing an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Sunrun during the third quarter valued at approximately $44,000. Summit Securities Group LLC purchased a new position in Sunrun in the 4th quarter valued at $53,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Sunrun during the fourth quarter worth about $56,000. 91.69% of the stock is owned by institutional investors.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $8.50 on Friday. The stock has a fifty day moving average of $6.71 and a 200-day moving average of $9.07. The company has a market capitalization of $1.94 billion, a PE ratio of -4.67 and a beta of 2.66. Sunrun Inc. has a one year low of $5.45 and a one year high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The business had revenue of $504.27 million during the quarter, compared to analysts’ expectations of $487.29 million. During the same period last year, the company posted ($0.40) earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, March 3rd. Citigroup reissued a “neutral” rating and set a $7.00 target price on shares of Sunrun in a research note on Thursday, April 17th. UBS Group dropped their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Royal Bank of Canada decreased their price target on Sunrun from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Sunrun currently has a consensus rating of “Hold” and a consensus target price of $14.82.

Insider Buying and Selling

In other news, CFO Danny Abajian sold 16,927 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the sale, the chief financial officer now owns 231,279 shares in the company, valued at approximately $1,558,820.46. The trade was a 6.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary Powell sold 31,197 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $210,267.78. Following the sale, the chief executive officer now owns 534,615 shares in the company, valued at approximately $3,603,305.10. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,540 shares of company stock worth $1,050,944. 3.77% of the stock is currently owned by insiders.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains 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.