Assenagon Asset Management S.A. Trims Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Assenagon Asset Management S.A. lessened its holdings in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 79.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 391,901 shares of the energy company's stock after selling 1,485,601 shares during the quarter. Assenagon Asset Management S.A. owned 0.17% of Sunrun worth $2,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc increased its holdings in Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company's stock valued at $229,000 after buying an additional 1,360 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Sunrun by 14.7% in the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock worth $72,000 after acquiring an additional 1,571 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Sunrun by 6.8% in the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company's stock valued at $253,000 after acquiring an additional 1,749 shares during the last quarter. Xponance Inc. raised its position in shares of Sunrun by 13.2% during the 4th quarter. Xponance Inc. now owns 16,265 shares of the energy company's stock valued at $150,000 after acquiring an additional 1,895 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in Sunrun by 17.7% during the fourth quarter. Scotia Capital Inc. now owns 14,377 shares of the energy company's stock worth $133,000 after purchasing an additional 2,157 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RUN shares. Morgan Stanley reiterated an "equal weight" rating and set a $11.00 target price on shares of Sunrun in a research note on Wednesday, April 23rd. Jefferies Financial Group downgraded shares of Sunrun from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, June 11th. Roth Capital set a $20.00 price objective on shares of Sunrun in a research note on Friday, February 28th. Citigroup restated a "neutral" rating and issued a $7.00 target price on shares of Sunrun in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group upped their target price on Sunrun from $12.00 to $15.00 and gave the company a "buy" rating in a report on Monday, May 19th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Sunrun has an average rating of "Hold" and an average target price of $14.06.

Sunrun Stock Down 3.6%

RUN stock opened at $9.64 on Tuesday. The firm's 50-day moving average is $8.12 and its two-hundred day moving average is $8.45. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -5.30 and a beta of 2.61. Sunrun Inc. has a 52 week low of $5.45 and a 52 week high of $22.26. 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 (NASDAQ:RUN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. The firm had revenue of $504.27 million for the quarter, compared to analysts' expectations of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.40) earnings per share. On average, analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other Sunrun news, CFO Danny Abajian sold 16,927 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $114,087.98. Following the transaction, the chief financial officer now owns 231,279 shares of the company's stock, valued at approximately $1,558,820.46. This represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward Harris Fenster acquired 50,000 shares of Sunrun stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $10.87 per share, with a total value of $543,500.00. Following the completion of the purchase, the director now owns 1,408,182 shares in the company, valued at approximately $15,306,938.34. This represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 88,993 shares of company stock valued at $612,979. Corporate insiders own 3.37% 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.

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