Sunrun Inc. (NASDAQ:RUN) Shares Bought by Spire Wealth Management

Spire Wealth Management raised its position in shares of Sunrun Inc. (NASDAQ:RUN) by 298.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,505 shares of the energy company’s stock after purchasing an additional 19,100 shares during the quarter. Spire Wealth Management’s holdings in Sunrun were worth $302,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BNP Paribas purchased a new position in shares of Sunrun during the first quarter worth $37,000. Duncker Streett & Co. Inc. purchased a new position in shares of Sunrun during the 2nd quarter valued at about $36,000. Parallel Advisors LLC lifted its holdings in shares of Sunrun by 91.4% in the 4th quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after buying an additional 1,513 shares during the period. Manchester Capital Management LLC boosted its stake in shares of Sunrun by 41.9% in the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after buying an additional 938 shares during the last quarter. Finally, CWM LLC grew its holdings in Sunrun by 883.9% during the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sunrun news, CEO Mary Powell sold 3,017 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $14.45, for a total value of $43,595.65. Following the completion of the sale, the chief executive officer now directly owns 586,910 shares in the company, valued at approximately $8,480,849.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Gerald Alan Risk sold 9,045 shares of Sunrun stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.04, for a total transaction of $181,261.80. Following the sale, the director now owns 334,761 shares of the company’s stock, valued at approximately $6,708,610.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mary Powell sold 3,017 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $14.45, for a total value of $43,595.65. Following the completion of the transaction, the chief executive officer now owns 586,910 shares of the company’s stock, valued at $8,480,849.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 277,929 shares of company stock worth $4,187,789. 3.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on RUN shares. Oppenheimer boosted their price target on Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Barclays raised their price target on shares of Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. UBS Group upped their price objective on shares of Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered their target price on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.98.

Sunrun Stock Performance

NASDAQ:RUN opened at $20.52 on Tuesday. The company’s 50-day moving average price is $16.88 and its 200-day moving average price is $13.87. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The company has a market cap of $4.59 billion, a P/E ratio of -3.08 and a beta of 2.61. Sunrun Inc. has a twelve month low of $8.43 and a twelve month high of $22.26.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. The company had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. Sunrun’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, sell-side analysts forecast that Sunrun Inc. will post -0.37 earnings per share for the current fiscal year.

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.