Erste Asset Management GmbH Purchases 330,666 Shares of Sunrun Inc. $RUN

Key Points

• Erste Asset Management GmbH boosted its Sunrun stake by 10.7% in the fourth quarter, buying 330,666 shares and bringing its total holdings to 3.41 million shares worth about $67.6 million.
• Other institutional investors have also been active in the stock, and overall institutions own 91.69% of Sunrun’s shares, signaling strong professional ownership interest.
• Insider selling has been notable: Director Lynn Michelle Jurich and CEO Mary Powell both sold shares recently, while analysts currently rate Sunrun Hold on average with a consensus price target of $18.48.

Erste Asset Management GmbH increased its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,412,900 shares of the energy company's stock after purchasing an additional 330,666 shares during the period. Erste Asset Management GmbH owned approximately 1.47% of Sunrun worth $67,582,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RUN. Norges Bank bought a new position in Sunrun in the 4th quarter worth about $62,169,000. Voloridge Investment Management LLC bought a new position in Sunrun in the 3rd quarter worth about $40,193,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Sunrun by 132.9% in 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 purchasing an additional 1,609,803 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Sunrun in the 3rd quarter worth about $21,427,000. Finally, HRT Financial LP bought a new position in Sunrun in the 2nd quarter worth about $9,416,000. Institutional investors own 91.69% of the company's stock.

Insider Activity

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $15.92, for a total transaction of $796,000.00. Following the completion of the sale, the director owned 459,091 shares of the company's stock, valued at $7,308,728.72. This represents a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 193,002 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the sale, the chief executive officer directly owned 934,282 shares of the company's stock, valued at $12,379,236.50. The trade was a 17.12% decrease in their position. 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 ninety days, insiders have sold 692,786 shares of company stock worth $9,339,291. Company insiders own 3.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Zacks Research cut shares of Sunrun from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. UBS Group decreased their target price on Sunrun from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, March 10th. Barclays decreased their target price on Sunrun from $23.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. Jefferies Financial Group decreased their target price on Sunrun from $22.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. Finally, TD Cowen decreased their target price on Sunrun from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.48.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $13.35 on Monday. Sunrun Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The business has a 50-day simple moving average of $13.61 and a two-hundred day simple moving average of $16.18. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 6.27 and a beta of 2.32.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million during the quarter, compared to analyst estimates of $688.50 million. During the same quarter in the previous year, the firm earned $0.20 EPS. Sunrun's revenue was up 43.2% on a year-over-year basis. On average, analysts expect that Sunrun Inc. will post 1.09 earnings per share for the current year.

Sunrun Company Profile

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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