800,000 Shares in Sunrun Inc. (NASDAQ:RUN) Acquired by EVR Research LP

EVR Research LP bought a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 800,000 shares of the energy company’s stock, valued at approximately $7,400,000. Sunrun accounts for about 2.5% of EVR Research LP’s portfolio, making the stock its 17th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Sunrun in the fourth quarter valued at $31,022,000. Clal Insurance Enterprises Holdings Ltd bought a new position in Sunrun in the 4th quarter worth about $18,500,000. Invesco Ltd. grew its holdings in Sunrun by 20.8% during the 4th quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company’s stock valued at $55,582,000 after buying an additional 1,035,096 shares in the last quarter. Erste Asset Management GmbH increased its position in shares of Sunrun by 16.3% during the fourth quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company’s stock valued at $47,302,000 after buying an additional 672,049 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Sunrun by 36.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company’s stock worth $17,367,000 after buying an additional 501,918 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 4.3 %

NASDAQ RUN opened at $6.29 on Friday. The stock has a 50-day moving average of $7.17 and a 200-day moving average of $10.24. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 1-year low of $5.45 and a 1-year high of $22.26. The firm has a market cap of $1.42 billion, a PE ratio of -3.46 and a beta of 2.74.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RUN shares. The Goldman Sachs Group reduced their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Truist Financial reaffirmed a “hold” rating and issued a $9.00 price target (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. TD Cowen reduced their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Roth Capital set a $20.00 price target on Sunrun in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 19,343 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the completion of the sale, the executive now owns 399,729 shares in the company, valued at approximately $2,694,173.46. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 16,927 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the transaction, the chief financial officer now directly owns 231,279 shares in the company, valued at $1,558,820.46. This trade represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,540 shares of company stock worth $1,530,444. Insiders own 3.77% of the company’s stock.

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.