AlphaQuest LLC Trims Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

AlphaQuest LLC cut its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 37.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,013 shares of the energy company’s stock after selling 7,277 shares during the period. AlphaQuest LLC’s holdings in Sunrun were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc boosted its holdings in Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after purchasing an additional 1,360 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after acquiring an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunrun in the third quarter valued at approximately $44,000. The Manufacturers Life Insurance Company grew its holdings in Sunrun by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 233,551 shares of the energy company’s stock valued at $4,218,000 after purchasing an additional 2,441 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Sunrun by 23.2% in the fourth quarter. Empowered Funds LLC now owns 13,734 shares of the energy company’s stock valued at $127,000 after purchasing an additional 2,588 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Stock Performance

Shares of NASDAQ:RUN opened at $6.51 on Wednesday. The company has a market cap of $1.47 billion, a P/E ratio of -3.58 and a beta of 2.84. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun Inc. has a one year low of $5.93 and a one year high of $22.26. The business’s 50-day simple moving average is $8.46 and its 200 day simple moving average is $11.90.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares in the company, valued at $6,264,388.78. The trade was a 0.77 % 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 Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total value of $471,000.00. Following the sale, the director now owns 1,041,753 shares in the company, valued at $9,813,313.26. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,466 shares of company stock worth $1,607,397. 3.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RUN. Roth Capital set a $20.00 target price on Sunrun in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Barclays decreased their price target on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group decreased their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

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.