Sunrun Inc. $RUN Shares Bought by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its holdings in Sunrun Inc. by 5.5%, now owning over 5 million shares valued at approximately $30 million.
• Several institutional investors significantly boosted their stakes in Sunrun during the fourth quarter, including Alyeska Investment Group which raised its investment by nearly 594%.
• Sunrun reported a quarterly EPS of $1.07, exceeding estimates, with revenues of $569.34 million, marking an 8.7% increase year-over-year.

Erste Asset Management GmbH raised its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,053,237 shares of the energy company's stock after purchasing an additional 264,024 shares during the quarter. Erste Asset Management GmbH owned 2.21% of Sunrun worth $30,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sunrun by 8.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company's stock worth $6,125,000 after purchasing an additional 52,176 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Sunrun during the first quarter worth approximately $273,000. Greenvale Capital LLP increased its position in shares of Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after acquiring an additional 4,516,793 shares during the period. GAMMA Investing LLC increased its position in shares of Sunrun by 572.1% during the first quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company's stock worth $421,000 after acquiring an additional 61,198 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Sunrun by 2.7% during the first quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company's stock worth $6,545,000 after acquiring an additional 29,227 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RUN shares. UBS Group raised their target price on shares of Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. TD Cowen raised their target price on shares of Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. KeyCorp raised shares of Sunrun from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their target price on shares of Sunrun from $8.00 to $14.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, BMO Capital Markets raised 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. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $14.63.

Insider Buying and Selling

In other Sunrun news, CRO Paul S. Dickson sold 8,010 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.81, for a total value of $86,588.10. Following the completion of the sale, the executive directly owned 679,044 shares in the company, valued at $7,340,465.64. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary Powell sold 11,509 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $124,297.20. Following the completion of the sale, the chief executive officer owned 893,240 shares of the company's stock, valued at approximately $9,646,992. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,283 shares of company stock valued at $836,110 over the last quarter. Insiders own 3.37% of the company's stock.

Sunrun Stock Up 9.9%

RUN stock traded up $1.46 during trading on Friday, hitting $16.20. 16,032,923 shares of the company's stock traded hands, compared to its average volume of 19,223,926. The firm has a market capitalization of $3.74 billion, a P/E ratio of -1.40 and a beta of 2.37. The business has a fifty day simple moving average of $10.29 and a two-hundred day simple moving average of $8.58. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. Sunrun Inc. has a 1 year low of $5.38 and a 1 year high of $22.26.

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