800,000 Shares in Sunrun Inc. (NASDAQ:RUN) Acquired by EVR Research LP

EVR Research LP bought a new stake in Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 800,000 shares of the energy company’s stock, valued at approximately $7,400,000. Sunrun makes up 2.5% of EVR Research LP’s holdings, making the stock its 17th largest position. EVR Research LP owned 0.36% of Sunrun at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RUN. Norges Bank acquired a new stake in Sunrun during the 4th quarter worth approximately $31,022,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Sunrun during the fourth quarter worth $18,500,000. Invesco Ltd. grew its stake in shares of Sunrun by 20.8% in the fourth quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company’s stock worth $55,582,000 after purchasing an additional 1,035,096 shares during the last quarter. Erste Asset Management GmbH increased its holdings in Sunrun by 16.3% in the fourth quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company’s stock valued at $47,302,000 after purchasing an additional 672,049 shares during the period. Finally, Assenagon Asset Management S.A. raised its position 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 purchasing an additional 501,918 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 31,197 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the transaction, the chief executive officer now directly owns 534,615 shares of the company’s stock, valued at $3,603,305.10. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 16,927 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $114,087.98. Following the completion of the transaction, the chief financial officer now directly owns 231,279 shares in the company, valued at approximately $1,558,820.46. This represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,540 shares of company stock worth $1,530,444. Insiders own 3.77% of the company’s stock.

Sunrun Trading Up 4.3 %

NASDAQ:RUN opened at $6.29 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun Inc. has a one year low of $5.45 and a one year high of $22.26. The company has a market cap of $1.42 billion, a PE ratio of -3.46 and a beta of 2.74. The firm has a 50-day moving average of $7.17 and a 200-day moving average of $10.24.

Wall Street Analyst Weigh In

RUN has been the subject of several recent research reports. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research note on Tuesday, January 7th. Truist Financial reissued a “hold” rating and set a $9.00 target price (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada dropped their target price on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued 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.