Sunrun Inc. (NASDAQ:RUN) Stock Holdings Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Sunrun Inc. (NASDAQ:RUN - Free Report) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,376,214 shares of the energy company's stock after selling 101,093 shares during the period. Bank of New York Mellon Corp owned 0.61% of Sunrun worth $8,065,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Sunrun by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company's stock worth $6,545,000 after buying an additional 29,227 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Sunrun during the 1st quarter valued at approximately $192,000. Alterna Wealth Management Inc. lifted its stake in Sunrun by 16.6% during the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after purchasing an additional 1,720 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Sunrun by 277.0% during the first quarter. Vontobel Holding Ltd. now owns 383,617 shares of the energy company's stock worth $2,248,000 after purchasing an additional 281,869 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC boosted its holdings in Sunrun by 6.3% in the first quarter. Ridgecrest Wealth Partners LLC now owns 85,000 shares of the energy company's stock worth $498,000 after purchasing an additional 5,000 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RUN has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Sunrun from $10.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. BNP Paribas upgraded shares of Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Morgan Stanley restated an "equal weight" rating and issued a $11.00 price target on shares of Sunrun in a research report on Wednesday, April 23rd. Truist Financial restated a "hold" rating and issued a $6.00 price target (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Finally, Wall Street Zen upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.30.

Insider Buying and Selling at Sunrun

In other Sunrun news, insider Jeanna Steele sold 3,668 shares of Sunrun stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $39,614.40. Following the transaction, the insider owned 439,620 shares in the company, valued at approximately $4,747,896. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster acquired 50,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $10.87 per share, with a total value of $543,500.00. Following the transaction, the director directly owned 1,408,182 shares in the company, valued at approximately $15,306,938.34. The trade was a 3.68% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 41,939 shares of company stock valued at $430,264. Corporate insiders own 3.37% of the company's stock.

Sunrun Price Performance

Shares of RUN traded up $0.20 during midday trading on Friday, reaching $10.78. The stock had a trading volume of 8,692,436 shares, compared to its average volume of 20,109,974. The firm's 50 day moving average price is $8.86 and its 200-day moving average price is $8.25. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.26. The company has a market capitalization of $2.46 billion, a P/E ratio of -0.89 and a beta of 2.60. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. Sunrun's revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.40) EPS. On average, analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

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.