Swedbank AB Reduces Stake in Sunrun Inc. $RUN

Swedbank AB lowered its holdings in Sunrun Inc. (NASDAQ:RUN) by 62.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 82,869 shares of the energy company’s stock after selling 136,042 shares during the quarter. Swedbank AB’s holdings in Sunrun were worth $486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sylebra Capital LLC lifted its holdings in Sunrun by 23.8% in the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock worth $48,482,000 after buying an additional 1,590,169 shares during the period. Erste Asset Management GmbH lifted its holdings in Sunrun by 5.5% in the 1st quarter. Erste Asset Management GmbH now owns 5,053,237 shares of the energy company’s stock worth $30,044,000 after buying an additional 264,024 shares during the period. Amundi lifted its holdings in Sunrun by 12.1% in the 1st quarter. Amundi now owns 3,479,021 shares of the energy company’s stock worth $20,686,000 after buying an additional 374,594 shares during the period. Northern Trust Corp lifted its holdings in Sunrun by 17.5% in the 1st quarter. Northern Trust Corp now owns 2,764,452 shares of the energy company’s stock worth $16,200,000 after buying an additional 410,800 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in Sunrun by 25.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company’s stock worth $14,650,000 after buying an additional 500,000 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Down 1.3%

RUN stock opened at $16.24 on Wednesday. Sunrun Inc. has a twelve month low of $5.38 and a twelve month high of $21.77. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $3.75 billion, a PE ratio of -1.40 and a beta of 2.21. The business has a 50 day moving average of $13.09 and a 200 day moving average of $9.52.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $1.25. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The company had revenue of $569.34 million during the quarter, compared to analyst estimates of $555.42 million. During the same quarter last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts forecast that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, insider Jeanna Steele sold 17,417 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $16.25, for a total transaction of $283,026.25. Following the sale, the insider directly owned 422,203 shares in the company, valued at approximately $6,860,798.75. This trade represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Paul S. Dickson sold 8,010 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.81, for a total value of $86,588.10. Following the sale, the executive owned 679,044 shares in the company, valued at approximately $7,340,465.64. This represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,136 shares of company stock worth $1,076,538 over the last quarter. 3.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on RUN shares. Glj Research raised Sunrun from a “sell” rating to a “hold” rating in a research report on Friday, August 15th. TD Cowen increased their target price on Sunrun from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Susquehanna increased their target price on Sunrun from $12.00 to $13.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. BMO Capital Markets increased their target price on Sunrun from $8.00 to $10.00 and gave the stock an “underperform” rating in a research report on Thursday, August 7th. Finally, Cowen reissued a “buy” rating on shares of Sunrun in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.81.

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.