Sunrun Inc. (NASDAQ:RUN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Sunrun Inc. (NASDAQ:RUN) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 262,192 shares of the energy company’s stock after selling 2,600 shares during the quarter. New York State Teachers Retirement System’s holdings in Sunrun were worth $4,735,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Sylebra Capital LLC acquired a new stake in shares of Sunrun in the second quarter worth approximately $35,387,000. Vanguard Group Inc. boosted its stake in Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after purchasing an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP grew its holdings in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after buying an additional 2,000,000 shares in the last quarter. Senator Investment Group LP acquired a new stake in shares of Sunrun in the second quarter valued at about $11,860,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Sunrun by 207.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after buying an additional 927,947 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the transaction, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the transaction, the director now owns 1,192,446 shares in the company, valued at $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Danny Abajian sold 9,694 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the sale, the chief financial officer now directly owns 278,260 shares in the company, valued at $5,495,635. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,840 shares of company stock worth $2,755,487. 3.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a report on Thursday, August 8th. Piper Sandler lifted their price objective on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. BMO Capital Markets boosted their price objective on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Truist Financial reaffirmed a “hold” rating and issued a $18.00 target price (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. Finally, Barclays lowered their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.70.

Sunrun Stock Performance

Shares of RUN stock opened at $16.91 on Wednesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The firm has a market cap of $3.78 billion, a P/E ratio of -2.51 and a beta of 2.61. The firm’s 50 day moving average price is $17.23 and its 200-day moving average price is $15.40. Sunrun Inc. has a one year low of $8.82 and a one year high of $22.26.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The firm’s revenue was down 11.2% compared to the same quarter last year. As a group, equities research analysts predict that Sunrun Inc. will post -0.17 EPS for the current year.

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.