Wilmington Savings Fund Society FSB Acquires New Stake in Sunrun Inc. (NASDAQ:RUN)

Wilmington Savings Fund Society FSB acquired a new stake in Sunrun Inc. (NASDAQ:RUN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,411 shares of the energy company’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. increased its holdings in Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the period. Duncker Streett & Co. Inc. bought a new stake in Sunrun during the 2nd quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sunrun in the 2nd quarter worth $45,000. Finally, Redwood Wealth Management Group LLC bought a new position in shares of Sunrun during the 2nd quarter worth $56,000. 91.69% of the stock is currently owned by institutional investors.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the transaction, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. The trade was a 4.58 % 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, insider Jeanna Steele sold 2,624 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $42,902.40. Following the sale, the insider now directly owns 305,636 shares in the company, valued at $4,997,148.60. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,691 shares of company stock worth $2,011,601 over the last three months. Company insiders own 3.77% of the company’s stock.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $9.87 on Monday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -5.42 and a beta of 2.54. Sunrun Inc. has a 12 month low of $9.01 and a 12 month high of $22.26. The company has a 50 day simple moving average of $11.97 and a two-hundred day simple moving average of $15.10. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays reduced their price target 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. Wells Fargo & Company lowered their target price on Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Truist Financial reaffirmed a “hold” rating and set a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Morgan Stanley reduced their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Finally, The Goldman Sachs Group dropped their price objective on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Sunrun currently has a consensus rating of “Hold” and an average price target of $19.21.

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.