Ballentine Partners LLC Buys 43,937 Shares of Sunrun Inc. $RUN

Key Points

• Ballentine Partners LLC increased its holding in Sunrun Inc. by 141.6% this quarter, acquiring an additional 43,937 shares and now owning a total of 74,956 shares, valued at approximately $613,000.
• Insider trading activity has been noted, with Jeanna Steele selling 7,077 shares at an average price of $16.75, and CFO Danny Abajian selling 2,180 shares at $16.93, indicating modest reductions in their ownership stakes.
• Sunrun's shares opened at $17.67, with a strong market presence as institutional investors currently own 91.69% of the stock, and the company recently posted better-than-expected earnings with a revenue increase of 8.7% year-over-year.

Ballentine Partners LLC grew its stake in Sunrun Inc. (NASDAQ:RUN - Free Report) by 141.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,956 shares of the energy company's stock after purchasing an additional 43,937 shares during the quarter. Ballentine Partners LLC's holdings in Sunrun were worth $613,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RUN. Sylebra Capital LLC lifted its stake in shares of Sunrun by 23.8% in the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock valued at $48,482,000 after purchasing an additional 1,590,169 shares during the period. Nuveen LLC purchased a new position in shares of Sunrun in the 1st quarter valued at approximately $5,259,000. Goldman Sachs Group Inc. lifted its stake in shares of Sunrun by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock valued at $13,518,000 after purchasing an additional 718,955 shares during the period. PDT Partners LLC lifted its stake in shares of Sunrun by 1,019.5% in the 1st quarter. PDT Partners LLC now owns 779,310 shares of the energy company's stock valued at $4,567,000 after purchasing an additional 709,699 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Sunrun by 25.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company's stock valued at $14,650,000 after purchasing an additional 500,000 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jeanna Steele sold 7,077 shares of Sunrun stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $16.75, for a total value of $118,539.75. Following the completion of the sale, the insider owned 415,126 shares of the company's stock, valued at $6,953,360.50. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Danny Abajian sold 2,180 shares of Sunrun stock in a transaction on Monday, September 8th. The stock was sold at an average price of $16.93, for a total value of $36,907.40. Following the completion of the sale, the chief financial officer directly owned 435,479 shares of the company's stock, valued at $7,372,659.47. The trade was a 0.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,136 shares of company stock valued at $1,076,538 over the last ninety days. 3.37% of the stock is owned by insiders.

Sunrun Stock Performance

Shares of RUN opened at $17.67 on Friday. 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 one year low of $5.38 and a one year high of $19.45. The firm has a market capitalization of $4.08 billion, a P/E ratio of -1.52 and a beta of 2.21. The business has a fifty day moving average of $14.10 and a 200 day moving average of $10.05.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Zacks Research raised Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. Jefferies Financial Group raised Sunrun from an "underperform" rating to a "hold" rating and raised their price objective for the company from $5.00 to $11.00 in a research report on Wednesday, July 9th. Royal Bank Of Canada raised Sunrun from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $12.00 to $16.00 in a research report on Monday, August 18th. Wells Fargo & Company raised their price objective on Sunrun from $8.00 to $14.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on Sunrun from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.94.

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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