Assenagon Asset Management S.A. Lowers Position in Sunrun Inc. $RUN

Key Points

• Assenagon Asset Management cut its Sunrun stake by 54% in the second quarter, selling 136,219 shares and retaining 115,874 shares valued at approximately $1.55 million. Institutional investors collectively own 91.69% of Sunrun.
• Sunrun reported stronger-than-expected quarterly results, with EPS of $0.42 versus the $0.23 consensus and revenue of $869.99 million, up 52.8% year over year.
• Analysts lowered several price targets, leaving Sunrun with an overall “Hold” rating and an average target of $16.81, compared with the stock’s reported opening price of $10.19.

Assenagon Asset Management S.A. trimmed its holdings in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 54.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,874 shares of the energy company's stock after selling 136,219 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Sunrun were worth $1,550,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in Sunrun by 156.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company's stock valued at $27,000 after purchasing an additional 885 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Sunrun during the fourth quarter worth approximately $27,000. Hantz Financial Services Inc. lifted its stake in shares of Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company's stock worth $28,000 after acquiring an additional 564 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Sunrun in the 4th quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC raised its position in shares of Sunrun by 49.2% during the 4th quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company's stock worth $31,000 after purchasing an additional 558 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Stock Up 3.3%

RUN opened at $10.19 on Friday. Sunrun Inc. has a one year low of $8.61 and a one year high of $22.44. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The stock's fifty day moving average is $11.79 and its 200-day moving average is $13.84. The company has a market capitalization of $2.45 billion, a PE ratio of 6.89 and a beta of 2.35.

Sunrun (NASDAQ:RUN - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. The business had revenue of $869.99 million for the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business's revenue for the quarter was up 52.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. On average, equities analysts predict that Sunrun Inc. will post 1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Susquehanna cut their target price on shares of Sunrun from $18.00 to $15.00 and set a "positive" rating on the stock in a research note on Friday, August 7th. TD Cowen dropped their target price on Sunrun from $21.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Wall Street Zen raised Sunrun from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays decreased their price target on Sunrun from $23.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, April 21st. Finally, UBS Group cut their target price on Sunrun from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $16.81.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 15,613 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.18, for a total transaction of $205,779.34. Following the transaction, the executive owned 839,539 shares in the company, valued at $11,065,124.02. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,495 shares of the business's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $217,569.05. Following the transaction, the chief financial officer directly owned 420,318 shares of the company's stock, valued at approximately $5,543,994.42. This represents a 3.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 223,045 shares of company stock valued at $2,934,835. Corporate insiders own 3.55% of the company's stock.

Sunrun Profile

Sunrun, Inc NASDAQ: RUN is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun's network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

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