Sunrun Inc. $RUN Stock Position Raised by Amundi

Key Points

• Amundi increased its Sunrun stake by 56.3% in the first quarter, adding 1.19 million shares to own approximately 1.38% of the company, valued at $44.8 million. Institutional investors collectively hold 91.69% of Sunrun’s stock.
• Sunrun reported better-than-expected quarterly results, including $0.62 in earnings per share versus analysts’ projected loss of $0.05 and revenue of $722.23 million, up 43.2% year over year.
• Analyst sentiment is mixed: 12 analysts rate the stock a Buy, eight a Hold and two a Sell, producing an overall “Hold” rating and an average price target of $18.81, compared with a recent share price of $9.81.

Amundi increased its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 56.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,300,626 shares of the energy company's stock after purchasing an additional 1,188,564 shares during the period. Amundi owned about 1.38% of Sunrun worth $44,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Sunrun by 156.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company's stock valued at $27,000 after acquiring an additional 885 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Sunrun in the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. boosted its holdings in shares of Sunrun by 59.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company's stock worth $28,000 after buying an additional 564 shares during the period. Kestra Advisory Services LLC acquired a new position in Sunrun in the 4th quarter valued at $30,000. Finally, Salomon & Ludwin LLC lifted its position in Sunrun by 49.2% during the 4th quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company's stock worth $31,000 after acquiring an additional 558 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jeanna Steele sold 9,897 shares of Sunrun stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the completion of the transaction, the insider directly owned 461,715 shares of the company's stock, valued at $6,090,020.85. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,495 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $217,569.05. Following the transaction, the chief financial officer owned 420,318 shares in the company, valued at approximately $5,543,994.42. This trade represents a 3.78% 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. Insiders sold a total of 173,045 shares of company stock valued at $2,436,835 over the last three months. Company insiders own 3.55% of the company's stock.

Sunrun Stock Performance

NASDAQ:RUN opened at $9.81 on Monday. The stock has a market capitalization of $2.34 billion, a P/E ratio of 4.61 and a beta of 2.36. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. Sunrun Inc. has a 1 year low of $9.01 and a 1 year high of $22.44. The firm has a 50 day moving average of $12.78 and a 200-day moving average of $14.38.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.67. The business had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.Sunrun's revenue for the quarter was up 43.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. As a group, sell-side analysts anticipate that Sunrun Inc. will post 1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

RUN has been the subject of several research analyst reports. Susquehanna cut their price objective on Sunrun from $19.00 to $18.00 and set a "positive" rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. lowered their price objective on shares of Sunrun from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Glj Research reiterated a "sell" rating and set a $4.63 target price on shares of Sunrun in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $17.00 price target on shares of Sunrun in a research report on Friday, May 8th. Finally, UBS Group dropped their price objective on shares of Sunrun from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $18.81.

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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