BI Asset Management Fondsmaeglerselskab A S Reduces Stock Holdings in Sunrun Inc. $RUN

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its stake in Sunrun Inc. by 87.6% during the first quarter, selling 43,932 shares and retaining only 6,223 shares.
• Sunrun's latest earnings report showed an EPS of $1.07, which exceeded expectations, along with a revenue of $569.34 million, marking an increase of 8.7% compared to the same quarter last year.
• Institutional investors now hold approximately 91.69% of Sunrun's stock, with several firms, including Apollon Wealth Management LLC and US Bancorp DE, increasing their positions in the company during the first quarter.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 87.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,223 shares of the energy company's stock after selling 43,932 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Sunrun were worth $36,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC bought a new stake in shares of Sunrun during the 1st quarter worth approximately $60,000. US Bancorp DE lifted its stake in shares of Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after acquiring an additional 5,342 shares during the last quarter. Alterna Wealth Management Inc. lifted its stake in shares of Sunrun by 16.6% during the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after acquiring an additional 1,720 shares during the last quarter. GAMMA Investing LLC raised its position in Sunrun by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock valued at $72,000 after purchasing an additional 1,571 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in Sunrun during the 1st quarter valued at $72,000. 91.69% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Danny Abajian sold 8,909 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20. Following the transaction, the chief financial officer directly owned 446,797 shares in the company, valued at $4,825,407.60. The trade was a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Paul S. Dickson sold 8,010 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.81, for a total value of $86,588.10. Following the transaction, the executive owned 679,044 shares in the company, valued at approximately $7,340,465.64. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,360 shares of company stock worth $954,649 over the last quarter. Company insiders own 3.37% of the company's stock.

Sunrun Stock Down 2.4%

Shares of NASDAQ:RUN traded down $0.40 on Friday, reaching $15.97. The company had a trading volume of 6,808,394 shares, compared to its average volume of 19,384,092. Sunrun Inc. has a 52-week low of $5.38 and a 52-week high of $21.77. The firm's 50 day simple moving average is $11.23 and its 200-day simple moving average is $8.85. The firm has a market capitalization of $3.68 billion, a PE ratio of -1.38 and a beta of 2.37. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Glj Research raised Sunrun from a "sell" rating to a "hold" rating in a research report on Friday, August 15th. UBS Group lifted their target price on Sunrun from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, August 8th. KeyCorp raised Sunrun from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Oppenheimer lifted their target price on Sunrun from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, TD Cowen lifted their target price on Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Sunrun currently has an average rating of "Moderate Buy" and a consensus target price of $14.63.

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.