DnB Asset Management AS Trims Position in Sunrun Inc. (NASDAQ:RUN)

DnB Asset Management AS lessened its stake in Sunrun Inc. (NASDAQ:RUN) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,889,581 shares of the energy company’s stock after selling 215,695 shares during the quarter. DnB Asset Management AS’s holdings in Sunrun were worth $17,479,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its holdings in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Sunrun in the third quarter worth approximately $44,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Sunrun during the 4th quarter worth about $56,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Sunrun in the 4th quarter valued at approximately $94,000. Finally, Alterna Wealth Management Inc. purchased a new stake in Sunrun in the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RUN. Roth Capital set a $20.00 price target on shares of Sunrun in a research report on Friday, February 28th. TD Cowen decreased their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Barclays reduced their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, BMO Capital Markets cut their target price on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Edward Harris Fenster purchased 150,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the acquisition, the director now owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Danny Abajian sold 3,734 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the transaction, the chief financial officer now owns 257,969 shares of the company’s stock, valued at $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,466 shares of company stock valued at $1,136,397 over the last quarter. Corporate insiders own 3.77% of the company’s stock.

Sunrun Trading Down 1.2 %

Shares of RUN stock opened at $5.94 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The business has a fifty day simple moving average of $7.89 and a 200-day simple moving average of $11.30. Sunrun Inc. has a fifty-two week low of $5.91 and a fifty-two week high of $22.26. The stock has a market cap of $1.34 billion, a P/E ratio of -3.26 and a beta of 2.84.

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.