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

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Sunrun Inc. by 15.7%, bringing its total ownership to 330,234 shares valued at approximately $2.7 million.
• Insider transactions included Jeanna Steele selling 17,417 shares and CEO Mary Powell selling 11,509 shares, both of which indicate a decrease in their respective holdings.
• Analysts have varying ratings for Sunrun, with Wells Fargo raising its price target from $8.00 to $14.00 while maintaining an "overweight" rating, contributing to the stock's current average price target of $14.94.

Assenagon Asset Management S.A. decreased its position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 15.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 330,234 shares of the energy company's stock after selling 61,667 shares during the period. Assenagon Asset Management S.A. owned 0.14% of Sunrun worth $2,701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in Sunrun during the fourth quarter worth approximately $94,000. Apollon Wealth Management LLC acquired a new stake in shares of Sunrun in the first quarter worth $60,000. US Bancorp DE increased its position in shares of Sunrun by 107.6% in the first quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after acquiring an additional 5,342 shares in the last quarter. PharVision Advisers LLC acquired a new stake in shares of Sunrun in the first quarter worth $69,000. Finally, Alterna Wealth Management Inc. grew its holdings in Sunrun by 16.6% during the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock valued at $71,000 after purchasing an additional 1,720 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insider Activity at Sunrun

In other news, insider Jeanna Steele sold 17,417 shares of Sunrun stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $16.25, for a total value of $283,026.25. Following the completion of the transaction, the insider directly owned 422,203 shares of the company's stock, valued at approximately $6,860,798.75. The trade was a 3.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary Powell sold 11,509 shares of Sunrun stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $124,297.20. Following the completion of the transaction, the chief executive officer directly owned 893,240 shares of the company's stock, valued at $9,646,992. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,136 shares of company stock worth $1,076,538 over the last 90 days. Company insiders own 3.37% of the company's stock.

Sunrun Price Performance

Shares of RUN stock opened at $16.91 on Friday. The firm has a market cap of $3.90 billion, a P/E ratio of -1.46 and a beta of 2.21. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $19.45. The firm has a fifty day moving average of $13.95 and a two-hundred day moving average of $9.97.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $1.25. The company had revenue of $569.34 million during the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. As a group, research analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Sunrun from $8.00 to $14.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. KeyCorp upgraded shares of Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Zacks Research upgraded shares of Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, September 8th. BNP Paribas Exane upgraded shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price objective on the stock in a report on Monday, July 7th. Finally, TD Cowen boosted their price objective on shares of Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $14.94.

Sunrun 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.

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