Neuberger Berman Group LLC grew its position in Sunrun Inc. (NASDAQ:RUN – Get Rating) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,002,512 shares of the energy company’s stock after acquiring an additional 247,464 shares during the period. Neuberger Berman Group LLC owned 0.95% of Sunrun worth $60,816,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Sunrun by 14.8% in the fourth quarter. BlackRock Inc. now owns 29,631,513 shares of the energy company’s stock worth $1,016,363,000 after purchasing an additional 3,814,952 shares in the last quarter. Vanguard Group Inc. lifted its position in Sunrun by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 17,996,518 shares of the energy company’s stock worth $546,554,000 after buying an additional 55,863 shares in the last quarter. State Street Corp grew its holdings in Sunrun by 3.8% during the 4th quarter. State Street Corp now owns 6,644,379 shares of the energy company’s stock worth $227,902,000 after acquiring an additional 244,354 shares during the last quarter. Invesco Ltd. increased its position in Sunrun by 2.2% in the 4th quarter. Invesco Ltd. now owns 6,144,419 shares of the energy company’s stock valued at $210,753,000 after acquiring an additional 130,641 shares in the last quarter. Finally, Phoenix Holdings Ltd. raised its stake in shares of Sunrun by 23.6% in the first quarter. Phoenix Holdings Ltd. now owns 3,749,077 shares of the energy company’s stock worth $113,901,000 after acquiring an additional 715,830 shares during the last quarter. 90.85% of the stock is currently owned by institutional investors.
Sunrun Trading Down 0.7 %
NASDAQ RUN opened at $37.10 on Monday. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of -66.25 and a beta of 2.26. Sunrun Inc. has a 52 week low of $16.80 and a 52 week high of $60.60. The stock’s 50 day moving average price is $31.60 and its two-hundred day moving average price is $27.70. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.17 and a current ratio of 1.73.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Sunrun from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Barclays initiated coverage on Sunrun in a report on Friday, August 5th. They set an “overweight” rating and a $46.00 price objective for the company. Roth Capital reduced their target price on shares of Sunrun from $42.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Wells Fargo & Company began coverage on shares of Sunrun in a research note on Wednesday, June 29th. They set an “equal weight” rating and a $27.00 price target for the company. Finally, Morgan Stanley lifted their target price on shares of Sunrun from $70.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, August 18th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and an average target price of $48.47.
Insider Buying and Selling
In other news, insider Lynn Michelle Jurich sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $37.63, for a total transaction of $2,822,250.00. Following the sale, the insider now owns 1,458,116 shares in the company, valued at approximately $54,868,905.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Edward Harris Fenster sold 25,000 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $25.00, for a total value of $625,000.00. Following the sale, the insider now owns 1,585,134 shares in the company, valued at approximately $39,628,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lynn Michelle Jurich sold 75,000 shares of Sunrun stock in a transaction on Monday, September 12th. The stock was sold at an average price of $37.63, for a total transaction of $2,822,250.00. Following the transaction, the insider now directly owns 1,458,116 shares of the company’s stock, valued at $54,868,905.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 375,753 shares of company stock worth $12,551,801. Corporate insiders own 4.29% of the company’s stock.
Sunrun Company Profile
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.
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