Skandinaviska Enskilda Banken AB publ Trims Holdings in Sunrun Inc. (NASDAQ:RUN)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 32.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,274 shares of the energy company’s stock after selling 37,686 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sunrun were worth $734,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Erste Asset Management GmbH purchased a new position in Sunrun during the 3rd quarter worth $76,152,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Sunrun during the fourth quarter valued at $18,500,000. FMR LLC raised its holdings in shares of Sunrun by 83.6% in the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after acquiring an additional 1,562,163 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Sunrun by 113.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after acquiring an additional 1,337,302 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Sunrun by 36.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company’s stock worth $17,367,000 after acquiring an additional 501,918 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Sunrun Stock Up 7.2 %

Sunrun stock opened at $6.97 on Tuesday. The business’s 50-day simple moving average is $8.56 and its two-hundred day simple moving average is $11.99. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The company has a market cap of $1.58 billion, a PE ratio of -3.83 and a beta of 2.84. Sunrun Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $22.26.

Insider Buying and Selling

In other Sunrun news, Director Edward Harris Fenster bought 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the sale, the director now directly owns 941,753 shares in the company, valued at $8,569,952.30. This represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,466 shares of company stock valued at $1,607,397 over the last quarter. 3.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on RUN. UBS Group lowered their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Roth Capital set a $20.00 target price on Sunrun in a report on Friday, February 28th. TD Cowen cut their price target on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, February 28th. StockNews.com upgraded Sunrun to a “sell” rating in a research note on Friday, December 20th. Finally, Piper Sandler downgraded shares of Sunrun from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.