Alliancebernstein L.P. Cuts Holdings in Sunrun Inc. (NASDAQ:RUN)

Alliancebernstein L.P. reduced its position in Sunrun Inc. (NASDAQ:RUN) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,726 shares of the energy company’s stock after selling 17,319 shares during the period. Alliancebernstein L.P. owned 0.13% of Sunrun worth $2,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new stake in Sunrun during the fourth quarter valued at $137,000. Summit Securities Group LLC purchased a new stake in shares of Sunrun during the 4th quarter valued at about $53,000. Pictet Asset Management Holding SA raised its position in shares of Sunrun by 31.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 39,432 shares of the energy company’s stock valued at $365,000 after buying an additional 9,380 shares in the last quarter. Norges Bank purchased a new position in Sunrun in the fourth quarter worth about $31,022,000. Finally, Caisse Des Depots ET Consignations bought a new stake in Sunrun during the fourth quarter worth approximately $172,000. 91.69% of the stock is owned by institutional investors.

Sunrun Stock Down 1.6 %

NASDAQ:RUN opened at $6.71 on Wednesday. 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 1-year low of $5.45 and a 1-year high of $22.26. The company has a 50-day moving average of $7.10 and a 200 day moving average of $10.07. The firm has a market cap of $1.52 billion, a PE ratio of -3.69 and a beta of 2.74.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RUN. TD Cowen lowered their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Roth Capital set a $20.00 price target on Sunrun in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective 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. The Goldman Sachs Group lowered their target price on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, BMO Capital Markets cut their price target on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.58.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 16,927 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the sale, the chief financial officer now directly owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeanna Steele sold 9,942 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now directly owns 291,238 shares in the company, valued at approximately $1,962,944.12. The trade was a 3.30 % 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 valued at $1,530,444. Company insiders own 3.77% of the company’s stock.

About Sunrun

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.