Essex Investment Management Co. LLC Purchases New Position in Sunrun Inc. (NASDAQ:RUN)

Essex Investment Management Co. LLC acquired a new position in Sunrun Inc. (NASDAQ:RUN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 43,544 shares of the energy company’s stock, valued at approximately $403,000.

Several other institutional investors and hedge funds have also bought and sold shares of RUN. Van ECK Associates Corp grew its position in shares of Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after buying an additional 886 shares during the period. CIBC Asset Management Inc boosted its stake in Sunrun by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock worth $229,000 after acquiring an additional 1,360 shares in the last quarter. Drive Wealth Management LLC grew its holdings in Sunrun by 4.5% in the third quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company’s stock worth $782,000 after purchasing an additional 1,884 shares during the period. 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 valued at $32,000 after purchasing an additional 2,000 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Sunrun by 8.3% during the third quarter. QRG Capital Management Inc. now owns 30,135 shares of the energy company’s stock valued at $544,000 after purchasing an additional 2,317 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Stock Up 4.2 %

RUN stock opened at $7.16 on Monday. The business’s 50-day moving average is $8.95 and its two-hundred day moving average is $12.59. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -3.93 and a beta of 2.84. Sunrun Inc. has a fifty-two week low of $5.93 and a fifty-two week 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.

Insider Transactions at Sunrun

In related news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the transaction, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the transaction, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,466 shares of company stock worth $1,607,397 in the last quarter. Company insiders own 3.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RUN. JPMorgan Chase & Co. cut their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. TD Cowen dropped their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Morgan Stanley reduced their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. UBS Group dropped their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, BMO Capital Markets reduced their price objective on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.51.

Sunrun Company 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.