First Trust Advisors LP Raises Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

First Trust Advisors LP grew its stake in Sunrun Inc. (NASDAQ:RUN - Free Report) by 33.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100,694 shares of the energy company's stock after buying an additional 275,338 shares during the period. First Trust Advisors LP owned approximately 0.49% of Sunrun worth $10,181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RUN. Wilmington Savings Fund Society FSB purchased a new position in Sunrun during the 3rd quarter valued at about $44,000. Aster Capital Management DIFC Ltd purchased a new position in Sunrun during the 4th quarter valued at about $29,000. Newbridge Financial Services Group Inc. increased its holdings in Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock valued at $32,000 after purchasing an additional 2,000 shares during the period. Summit Securities Group LLC purchased a new position in Sunrun during the 4th quarter valued at about $53,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Sunrun during the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analyst Ratings Changes

RUN has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their price target on Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company cut their price objective on Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Truist Financial reaffirmed a "hold" rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. TD Cowen cut their price objective on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Susquehanna cut their price objective on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $14.92.

Insider Buying and Selling at Sunrun

In related news, insider Jeanna Steele sold 9,942 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the transaction, the insider now directly owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the sale, the director now directly owns 941,753 shares in the company, valued at $8,569,952.30. This trade represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,540 shares of company stock worth $1,050,944. Insiders own 3.77% of the company's stock.

Sunrun Stock Up 4.4 %

RUN stock traded up $0.30 during midday trading on Thursday, hitting $7.19. The company's stock had a trading volume of 6,936,436 shares, compared to its average volume of 10,724,487. The company has a market cap of $1.63 billion, a PE ratio of -3.95 and a beta of 2.74. Sunrun Inc. has a 12 month low of $5.45 and a 12 month high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm's 50-day moving average is $6.73 and its 200-day moving average is $9.32.

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.