Sunrun Inc (NASDAQ:RUN) Stake Lowered by DNB Asset Management AS

DNB Asset Management AS lessened its holdings in Sunrun Inc (NASDAQ:RUN) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 686,720 shares of the energy company’s stock after selling 180,041 shares during the period. DNB Asset Management AS owned approximately 0.60% of Sunrun worth $9,655,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Sunrun by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 956,714 shares of the energy company’s stock valued at $10,418,000 after acquiring an additional 99,781 shares in the last quarter. Norges Bank purchased a new stake in Sunrun in the fourth quarter valued at approximately $16,863,000. Dimensional Fund Advisors LP boosted its position in Sunrun by 201.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,525,543 shares of the energy company’s stock valued at $16,612,000 after buying an additional 1,019,554 shares during the last quarter. FMR LLC boosted its position in Sunrun by 0.9% in the fourth quarter. FMR LLC now owns 16,777,863 shares of the energy company’s stock valued at $182,711,000 after buying an additional 141,866 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Sunrun by 147.8% in the fourth quarter. Millennium Management LLC now owns 2,946,325 shares of the energy company’s stock valued at $32,085,000 after buying an additional 1,757,496 shares during the last quarter. Institutional investors own 84.64% of the company’s stock.

Shares of RUN traded up $0.56 during midday trading on Friday, reaching $16.00. The company had a trading volume of 1,167,751 shares, compared to its average volume of 1,129,963. Sunrun Inc has a 1-year low of $8.81 and a 1-year high of $17.44. The company has a market capitalization of $1.84 billion, a PE ratio of 69.57, a price-to-earnings-growth ratio of 0.93 and a beta of 0.58. The company has a quick ratio of 1.03, a current ratio of 1.24 and a debt-to-equity ratio of 1.61.

Sunrun (NASDAQ:RUN) last issued its earnings results on Thursday, February 28th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.51). The company had revenue of $240.12 million during the quarter, compared to analyst estimates of $177.45 million. Sunrun had a return on equity of 2.09% and a net margin of 3.51%. As a group, equities analysts anticipate that Sunrun Inc will post 1.37 earnings per share for the current fiscal year.

In related news, major shareholder Tiger Global Management Llc acquired 766,201 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average price of $16.26 per share, for a total transaction of $12,458,428.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Edward Harris Fenster sold 3,510 shares of Sunrun stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.01, for a total value of $59,705.10. Following the completion of the transaction, the chairman now owns 2,460,681 shares of the company’s stock, valued at approximately $41,856,183.81. The disclosure for this sale can be found here. Insiders have sold a total of 631,278 shares of company stock valued at $10,032,674 over the last three months. Corporate insiders own 9.34% of the company’s stock.

Several research firms have commented on RUN. Bank of America restated a “buy” rating and issued a $23.50 price objective (up previously from $17.50) on shares of Sunrun in a research report on Thursday, April 25th. ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Credit Suisse Group set a $24.00 target price on Sunrun and gave the company a “buy” rating in a research report on Friday, March 1st. BidaskClub upgraded Sunrun from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Finally, Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $18.64.

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About Sunrun

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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