Amundi Decreases Stake in Sunrun Inc. $RUN

Amundi cut its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,410,394 shares of the energy company’s stock after selling 68,627 shares during the quarter. Amundi owned about 1.48% of Sunrun worth $27,897,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Thomist Capital Management LP acquired a new position in shares of Sunrun in the 2nd quarter valued at $205,000. Blueshift Asset Management LLC purchased a new stake in Sunrun in the 2nd quarter valued at about $1,909,000. Edgestream Partners L.P. lifted its position in Sunrun by 124.5% in the second quarter. Edgestream Partners L.P. now owns 193,632 shares of the energy company’s stock valued at $1,584,000 after buying an additional 107,377 shares during the last quarter. Norges Bank acquired a new position in Sunrun in the second quarter valued at about $3,362,000. Finally, Hsbc Holdings PLC boosted its stake in Sunrun by 86.8% during the second quarter. Hsbc Holdings PLC now owns 79,190 shares of the energy company’s stock worth $667,000 after buying an additional 36,800 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Down 1.1%

Shares of NASDAQ RUN opened at $17.87 on Wednesday. The stock has a market cap of $4.15 billion, a P/E ratio of -1.60 and a beta of 2.35. The business’s fifty day simple moving average is $19.31 and its 200-day simple moving average is $14.41. Sunrun Inc. has a 12-month low of $5.38 and a 12-month high of $22.44. The company has a current ratio of 1.46, a quick ratio of 1.06 and a debt-to-equity ratio of 3.67.

Sunrun (NASDAQ:RUN) last released its earnings results on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $724.56 million during the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.Sunrun’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.37) EPS. As a group, equities analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Edward Harris Fenster sold 133,256 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $18.11, for a total value of $2,413,266.16. Following the sale, the director directly owned 1,474,926 shares in the company, valued at $26,710,909.86. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mary Powell sold 11,699 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $19.34, for a total value of $226,258.66. Following the transaction, the chief executive officer directly owned 876,590 shares of the company’s stock, valued at approximately $16,953,250.60. This represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 403,160 shares of company stock valued at $7,752,780. 3.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RUN shares. JPMorgan Chase & Co. boosted their price target on shares of Sunrun from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. UBS Group increased their price objective on shares of Sunrun from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Morgan Stanley boosted their target price on Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft upped their price target on Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Finally, The Goldman Sachs Group raised their price target on Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.58.

Sunrun Company 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.