UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 194,331 Shares of Sunrun Inc. $RUN

Key Points

• UBS Asset Management cut its Sunrun stake by 25.4%, selling 194,331 shares in the second quarter and retaining 570,066 shares worth approximately $7.6 million.
• Institutional investors own 91.69% of Sunrun, while several major firms—including Goldman Sachs—expanded their positions during the first quarter.
• Sunrun beat quarterly earnings and revenue estimates, with revenue up 52.8% year over year. Despite analysts’ generally positive outlook, the stock carries a consensus “Hold” rating and an average price target of $16.81 versus its reported price of $8.89.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Sunrun Inc. (NASDAQ:RUN - Free Report) by 25.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 570,066 shares of the energy company's stock after selling 194,331 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of Sunrun worth $7,627,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Royal Bank of Canada grew its position in Sunrun by 5.1% in the 1st quarter. Royal Bank of Canada now owns 626,536 shares of the energy company's stock valued at $3,672,000 after acquiring an additional 30,175 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company's stock worth $192,000 after purchasing an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sunrun by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company's stock worth $1,397,000 after purchasing an additional 5,882 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Sunrun by 511.0% during the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company's stock valued at $158,000 after buying an additional 22,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Sunrun by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock valued at $13,518,000 after buying an additional 718,955 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Sunrun Price Performance

NASDAQ RUN opened at $8.89 on Tuesday. The company has a market cap of $2.14 billion, a PE ratio of 6.01 and a beta of 2.37. The firm's 50 day moving average price is $10.50 and its 200-day moving average price is $12.61. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. Sunrun Inc. has a 52-week low of $8.22 and a 52-week high of $22.44.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. The company had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. Sunrun's revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Sell-side analysts forecast that Sunrun Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RUN has been the subject of several research reports. Mizuho set a $18.00 target price on shares of Sunrun in a research note on Thursday, August 6th. Oppenheimer reaffirmed an "outperform" rating and set a $20.00 price target on shares of Sunrun in a research note on Thursday, August 6th. Royal Bank Of Canada lowered their price target on Sunrun from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Zacks Research cut Sunrun from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Finally, Susquehanna reduced their price objective on Sunrun from $18.00 to $15.00 and set a "positive" rating on the stock in a report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.81.

Insiders Place Their Bets

In other Sunrun news, CRO Paul S. Dickson sold 15,613 shares of Sunrun stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.18, for a total value of $205,779.34. Following the transaction, the executive owned 839,539 shares in the company, valued at $11,065,124.02. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $13.61, for a total transaction of $680,500.00. Following the completion of the transaction, the director owned 409,091 shares of the company's stock, valued at $5,567,728.51. This represents a 10.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 171,015 shares of company stock worth $2,111,653. Insiders own 3.55% of the company's stock.

Sunrun 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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