Russell Investments Group Ltd. Purchases 122,286 Shares of Sunrun Inc. (NASDAQ:RUN)

Russell Investments Group Ltd. grew its position in Sunrun Inc. (NASDAQ:RUN) by 45.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 389,236 shares of the energy company’s stock after purchasing an additional 122,286 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sunrun were worth $7,641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Grantham Mayo Van Otterloo & Co. LLC grew its position in Sunrun by 35.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock worth $178,127,000 after purchasing an additional 3,748,696 shares during the last quarter. Deutsche Bank AG increased its position in shares of Sunrun by 112.9% in the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after acquiring an additional 1,180,823 shares during the period. Robeco Schweiz AG raised its stake in Sunrun by 35.8% in the 3rd quarter. Robeco Schweiz AG now owns 3,581,300 shares of the energy company’s stock worth $44,981,000 after acquiring an additional 945,000 shares during the last quarter. Electron Capital Partners LLC lifted its position in Sunrun by 53.4% during the 3rd quarter. Electron Capital Partners LLC now owns 2,212,749 shares of the energy company’s stock worth $27,792,000 after acquiring an additional 770,234 shares during the period. Finally, Invesco Ltd. grew its stake in Sunrun by 6.2% during the 3rd quarter. Invesco Ltd. now owns 7,137,991 shares of the energy company’s stock valued at $89,653,000 after purchasing an additional 416,747 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RUN. Piper Sandler decreased their target price on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Truist Financial reaffirmed a “hold” rating and set a $14.00 target price (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Susquehanna reissued a “positive” rating and issued a $25.00 price target on shares of Sunrun in a research note on Friday, April 5th. Finally, Janney Montgomery Scott downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.26.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 2,836 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $10.01, for a total value of $28,388.36. Following the completion of the sale, the director now owns 1,399,810 shares of the company’s stock, valued at approximately $14,012,098.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CRO Paul S. Dickson sold 10,412 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.12, for a total value of $126,193.44. Following the sale, the executive now directly owns 298,717 shares in the company, valued at approximately $3,620,450.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 2,836 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.01, for a total transaction of $28,388.36. Following the completion of the transaction, the director now directly owns 1,399,810 shares in the company, valued at approximately $14,012,098.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,760 shares of company stock valued at $3,615,990. 3.76% of the stock is owned by company insiders.

Sunrun Price Performance

RUN stock opened at $11.78 on Wednesday. Sunrun Inc. has a 1 year low of $8.43 and a 1 year high of $23.85. The firm has a market capitalization of $2.61 billion, a PE ratio of -1.59 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96. The business has a 50 day simple moving average of $11.36 and a 200-day simple moving average of $13.15.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The company had revenue of $516.59 million during the quarter, compared to analysts’ expectations of $499.74 million. Equities research analysts anticipate that Sunrun Inc. will post -1.69 earnings per share for the current fiscal year.

Sunrun 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.