State of Alaska Department of Revenue Sells 2,579 Shares of Sunrun Inc. (NASDAQ:RUN)

State of Alaska Department of Revenue reduced its position in shares of Sunrun Inc. (NASDAQ:RUN) by 2.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 127,564 shares of the energy company’s stock after selling 2,579 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Sunrun worth $2,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RUN. First Trust Direct Indexing L.P. bought a new position in shares of Sunrun in the 1st quarter valued at about $155,000. Maryland State Retirement & Pension System boosted its holdings in shares of Sunrun by 520.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 93,639 shares of the energy company’s stock worth $1,234,000 after purchasing an additional 78,536 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Sunrun by 142.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock worth $3,199,000 after purchasing an additional 142,563 shares during the period. Capstone Investment Advisors LLC bought a new position in shares of Sunrun during the 1st quarter valued at approximately $418,000. Finally, BNP Paribas purchased a new stake in Sunrun during the 1st quarter valued at $37,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Sunrun news, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $35,311.51. Following the sale, the director now owns 1,242,446 shares of the company’s stock, valued at approximately $22,649,790.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Jeanna Steele sold 24,161 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total value of $464,857.64. Following the sale, the insider now owns 310,617 shares in the company, valued at $5,976,271.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 1,937 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $35,311.51. Following the sale, the director now directly owns 1,242,446 shares in the company, valued at $22,649,790.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,001 shares of company stock worth $3,220,345. Insiders own 3.77% of the company’s stock.

Sunrun Price Performance

Shares of RUN stock opened at $14.76 on Friday. The company has a market cap of $3.30 billion, a P/E ratio of -2.32 and a beta of 2.58. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The stock’s 50-day moving average is $17.33 and its 200 day moving average is $15.29. Sunrun Inc. has a 1-year low of $8.82 and a 1-year high of $22.26.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. Sunrun’s revenue was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Research analysts predict that Sunrun Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RUN has been the subject of several analyst reports. Barclays lowered their target price on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Piper Sandler boosted their target price on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Susquehanna reduced their price target on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Oppenheimer boosted their price objective on Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets increased their target price on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.79.

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.