Sunrun Inc. (NASDAQ:RUN) Shares Bought by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,475 shares of the energy company’s stock after buying an additional 1,597 shares during the quarter. Arizona State Retirement System’s holdings in Sunrun were worth $729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new stake in Sunrun in the 2nd quarter worth $36,000. BNP Paribas purchased a new stake in shares of Sunrun during the first quarter worth about $37,000. CWM LLC raised its position in shares of Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after purchasing an additional 3,014 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sunrun in the 2nd quarter valued at about $45,000. Finally, Headlands Technologies LLC acquired a new stake in Sunrun in the 1st quarter worth about $53,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Up 2.4 %

NASDAQ:RUN opened at $19.23 on Monday. Sunrun Inc. has a 52 week low of $8.43 and a 52 week high of $22.26. The stock’s fifty day moving average is $18.05 and its two-hundred day moving average is $14.17. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -2.88 and a beta of 2.59. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its earnings results 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 analysts’ expectations of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. Sunrun’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. Research analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current year.

Insider Activity

In other Sunrun news, insider Jeanna Steele sold 2,513 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the sale, the insider now directly owns 312,774 shares in the company, valued at approximately $3,944,080.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Sunrun news, insider Jeanna Steele sold 2,513 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.61, for a total value of $31,688.93. Following the sale, the insider now owns 312,774 shares of the company’s stock, valued at approximately $3,944,080.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $12.11, for a total value of $605,500.00. Following the transaction, the director now directly owns 1,344,383 shares of the company’s stock, valued at $16,280,478.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,675 shares of company stock valued at $2,848,789. 3.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on RUN. Evercore ISI reduced their target price on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Morgan Stanley increased their price objective on Sunrun from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Thursday, August 8th. Truist Financial reiterated a “hold” rating and issued a $18.00 target price (up from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Sunrun has an average rating of “Moderate Buy” and a consensus target price of $22.98.

About Sunrun

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.