Drive Wealth Management LLC Has $782,000 Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Drive Wealth Management LLC grew its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 43,327 shares of the energy company’s stock after acquiring an additional 1,884 shares during the quarter. Drive Wealth Management LLC’s holdings in Sunrun were worth $782,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after acquiring an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP boosted its holdings in shares of Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after purchasing an additional 729,633 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Sunrun by 0.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company’s stock valued at $56,402,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Sylebra Capital LLC acquired a new position in shares of Sunrun during the 2nd quarter worth $35,387,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the transaction, the director now owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. This represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary Powell sold 6,415 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.34, for a total value of $104,821.10. Following the completion of the sale, the chief executive officer now owns 569,368 shares of the company’s stock, valued at approximately $9,303,473.12. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,795 shares of company stock valued at $2,574,225 over the last 90 days. Company insiders own 3.77% of the company’s stock.

Sunrun Stock Performance

Shares of Sunrun stock opened at $9.89 on Monday. The business has a 50-day moving average price of $15.70 and a two-hundred day moving average price of $15.47. Sunrun Inc. has a 1-year low of $9.23 and a 1-year high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The company has a market cap of $2.22 billion, a P/E ratio of -5.43 and a beta of 2.61.

Analyst Ratings Changes

RUN has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Barclays dropped their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI lowered their price target on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler raised their price objective on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and an average target price of $20.12.

Sunrun Profile

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.