DNB Asset Management AS Has $14.20 Million Position in Sunrun Inc. $RUN

Key Points

• DNB Asset Management AS reduced its Sunrun stake by 19.9% in the fourth quarter, selling 191,960 shares and leaving it with 771,582 shares valued at about $14.2 million.
• Institutional ownership remains very high, with 91.69% of Sunrun held by hedge funds and other institutions; several large investors, including Vanguard and BNP Paribas AM, increased their positions.
• Sunrun’s latest earnings beat expectations, reporting $0.62 EPS versus an expected loss and revenue of $722.23 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $18.48.

DNB Asset Management AS cut its holdings in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 19.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 771,582 shares of the energy company's stock after selling 191,960 shares during the quarter. DNB Asset Management AS owned about 0.33% of Sunrun worth $14,197,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Sunrun by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company's stock worth $418,300,000 after acquiring an additional 288,945 shares during the last quarter. Erste Asset Management GmbH increased its holdings in shares of Sunrun by 62.7% during the 3rd quarter. Erste Asset Management GmbH now owns 3,082,234 shares of the energy company's stock worth $54,778,000 after acquiring an additional 1,188,092 shares during the last quarter. Robeco Schweiz AG increased its holdings in shares of Sunrun by 37.8% during the 4th quarter. Robeco Schweiz AG now owns 2,946,776 shares of the energy company's stock worth $54,221,000 after acquiring an additional 808,585 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Sunrun by 132.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company's stock worth $48,777,000 after acquiring an additional 1,609,803 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Sunrun in the 3rd quarter valued at $40,193,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $17.00 price objective on shares of Sunrun in a report on Friday, May 8th. Oppenheimer upped their price objective on Sunrun from $23.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Loop Capital set a $12.00 price objective on Sunrun in a report on Tuesday, March 3rd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Sunrun in a report on Thursday, May 7th. Finally, Barclays decreased their price objective on Sunrun from $23.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.48.

Sunrun Stock Performance

NASDAQ:RUN opened at $13.99 on Monday. The stock has a fifty day moving average price of $12.91 and a 200-day moving average price of $16.68. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 6.57 and a beta of 2.25. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. Sunrun Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $22.44.

Sunrun (NASDAQ:RUN - Get Free Report) last released its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.67. The firm had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company's revenue was up 43.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. As a group, equities analysts anticipate that Sunrun Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity

In other Sunrun news, CAO Maria Barak sold 8,039 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $13.67, for a total transaction of $109,893.13. Following the sale, the chief accounting officer directly owned 72,963 shares in the company, valued at $997,404.21. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 193,002 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the sale, the chief executive officer owned 934,282 shares in the company, valued at $12,379,236.50. The trade was a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 716,050 shares of company stock valued at $9,463,809. Company insiders own 3.55% of the company's stock.

About Sunrun

Sunrun, Inc NASDAQ: RUN is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun's network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

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