Diversify Wealth Management LLC Raises Stake in Sunrun Inc. $RUN

Diversify Wealth Management LLC grew its position in Sunrun Inc. (NASDAQ:RUN) by 77.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 798,243 shares of the energy company’s stock after purchasing an additional 347,204 shares during the quarter. Diversify Wealth Management LLC’s holdings in Sunrun were worth $10,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contour Asset Management LLC bought a new stake in shares of Sunrun during the 4th quarter valued at $98,010,000. Norges Bank bought a new position in Sunrun in the 4th quarter worth $62,169,000. Voloridge Investment Management LLC purchased a new stake in Sunrun in the 3rd quarter worth $40,193,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sunrun in the 3rd quarter worth $21,427,000. Finally, Invesco Ltd. raised its holdings in Sunrun by 26.6% during the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after acquiring an additional 1,231,628 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Sunrun

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: Sunrun launched a distributed AI data center pilot that could let homeowners’ solar and battery systems support edge computing, creating a new business line beyond its core residential solar model. Article Title
• Positive Sentiment: Trading activity showed unusually heavy call option buying, suggesting some investors are betting the AI-related announcement could drive more upside in RUN. Article Title
• Positive Sentiment: Susquehanna trimmed its price target to $18 from $19 but kept a positive rating, which still implies meaningful upside from current levels. Article Title
• Neutral Sentiment: Media coverage around the AI data-center pilot has kept Sunrun in the spotlight, but some reports noted the news has not yet translated into a full stock re-rating. Article Title
• Negative Sentiment: Chief accounting officer Maria Barak sold 3,278 shares in a pre-arranged 10b5-1 transaction, adding to recent insider selling that may weigh on sentiment. Article Title
• Negative Sentiment: Glj Research reaffirmed a sell rating and set a $4.63 target, a sharply bearish call that signals substantial downside risk in the eyes of that firm. Article Title

Insider Buying and Selling

In related news, CFO Danny Abajian sold 16,495 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $217,569.05. Following the completion of the transaction, the chief financial officer directly owned 420,318 shares of the company’s stock, valued at approximately $5,543,994.42. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 23,985 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $316,362.15. Following the transaction, the chief executive officer owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. This represents a 2.11% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 223,045 shares of company stock valued at $3,081,335 in the last ninety days. Company insiders own 3.55% of the company’s stock.

Wall Street Analyst Weigh In

RUN has been the topic of several research analyst reports. Glj Research restated a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a research report on Friday. Roth Capital reiterated a “buy” rating on shares of Sunrun in a research report on Thursday. Barclays decreased their target price on Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Susquehanna lowered their price target on Sunrun from $19.00 to $18.00 and set a “positive” rating on the stock in a report on Friday. Finally, Jefferies Financial Group dropped their price target on Sunrun from $22.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.81.

Sunrun Price Performance

RUN stock traded up $0.01 during mid-day trading on Friday, hitting $12.47. The company had a trading volume of 7,231,726 shares, compared to its average volume of 11,651,620. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 5.85 and a beta of 2.32. Sunrun Inc. has a 12-month low of $9.01 and a 12-month high of $22.44. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. The company has a 50-day moving average price of $13.66 and a 200 day moving average price of $15.26.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.67. The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The business’s revenue was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, research analysts anticipate that Sunrun Inc. will post 1.01 earnings per share for the current year.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.