Blueshift Asset Management LLC Raises Stock Position in Sunrun Inc. (NASDAQ:RUN)

Blueshift Asset Management LLC boosted its position in shares of Sunrun Inc. (NASDAQ:RUN) by 20.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 61,272 shares of the energy company’s stock after buying an additional 10,396 shares during the quarter. Blueshift Asset Management LLC’s holdings in Sunrun were worth $567,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Erste Asset Management GmbH purchased a new stake in shares of Sunrun in the 3rd quarter valued at approximately $76,152,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Sunrun in the 4th quarter valued at approximately $18,500,000. FMR LLC raised its stake in shares of Sunrun by 83.6% in the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after acquiring an additional 1,562,163 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Sunrun by 113.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after acquiring an additional 1,337,302 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Sunrun by 36.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company’s stock valued at $17,367,000 after acquiring an additional 501,918 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 sale, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. This represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward Harris Fenster purchased 150,000 shares of Sunrun stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the transaction, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 121,466 shares of company stock worth $1,136,397. Corporate insiders own 3.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RUN. JPMorgan Chase & Co. reduced their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Truist Financial restated a “hold” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Wells Fargo & Company dropped their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a report on Friday, December 20th. Finally, BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Trading Up 0.8 %

Shares of Sunrun stock opened at $6.71 on Friday. The company has a fifty day simple moving average of $8.30 and a 200-day simple moving average of $11.82. Sunrun Inc. has a 12-month low of $5.93 and a 12-month 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 stock has a market cap of $1.52 billion, a price-to-earnings ratio of -3.69 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.