BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 2,014,240 Shares of Sunrun Inc. $RUN

Key Points

• BNP PARIBAS ASSET MANAGEMENT lowered its stake in Sunrun Inc. by 40.5% during the first quarter, owning approximately 1.29% of the company valued at $17.32 million after selling over 2 million shares.
• Sunrun received several analyst upgrades, with Royal Bank of Canada and JPMorgan increasing their price targets to $16.00 and $20.00, respectively, reflecting growing confidence in the company's potential.
• Sunrun's latest quarterly earnings showed an EPS of $1.07, significantly surpassing analysts' estimates, and revenue of $569.34 million, marking an 8.7% increase compared to the previous year.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 40.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,955,976 shares of the energy company's stock after selling 2,014,240 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 1.29% of Sunrun worth $17,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in Sunrun by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock valued at $64,000 after purchasing an additional 6,129 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Sunrun during the 4th quarter valued at $92,000. Wealth Enhancement Advisory Services LLC purchased a new position in Sunrun during the 4th quarter valued at $94,000. Apollon Wealth Management LLC purchased a new position in Sunrun during the 1st quarter valued at $60,000. Finally, US Bancorp DE increased its position in Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock valued at $60,000 after purchasing an additional 5,342 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Stock Down 0.1%

RUN stock traded down $0.02 during trading on Wednesday, hitting $15.47. 16,799,352 shares of the stock traded hands, compared to its average volume of 19,537,670. Sunrun Inc. has a 1 year low of $5.38 and a 1 year high of $22.26. The firm's 50 day moving average is $10.04 and its two-hundred day moving average is $8.49. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -1.33 and a beta of 2.37. 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 (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, beating the consensus estimate of ($0.18) by $1.25. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 million. During the same period in the prior year, the firm posted $0.55 EPS. Sunrun's revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

RUN has been the topic of a number of research analyst reports. Susquehanna boosted their price objective on shares of Sunrun from $12.00 to $13.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Sunrun from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. TD Cowen boosted their price objective on shares of Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. BMO Capital Markets upped their target price on shares of Sunrun from $8.00 to $10.00 and gave the stock an "underperform" rating in a research report on Thursday, August 7th. Finally, Cowen reaffirmed a "buy" rating on shares of Sunrun in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sunrun presently has a consensus rating of "Moderate Buy" and an average target price of $14.63.

Insider Activity at Sunrun

In related news, insider Jeanna Steele sold 17,417 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $16.25, for a total transaction of $283,026.25. Following the sale, the insider directly owned 422,203 shares of the company's stock, valued at approximately $6,860,798.75. This represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 8,909 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $96,217.20. Following the sale, the chief financial officer directly owned 446,797 shares in the company, valued at $4,825,407.60. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,283 shares of company stock worth $836,110 in the last ninety days. 3.37% of the stock is currently owned by company insiders.

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.