Sunrun Inc. (NASDAQ:RUN) Stake Cut by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 65.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 369,078 shares of the energy company's stock after selling 697,312 shares during the quarter. Neuberger Berman Group LLC owned 0.16% of Sunrun worth $3,414,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Sunrun in the fourth quarter valued at about $29,000. Newbridge Financial Services Group Inc. grew its stake 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 acquiring an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Sunrun in the 3rd quarter valued at about $44,000. Summit Securities Group LLC acquired a new position in shares of Sunrun during the 4th quarter worth approximately $53,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Sunrun in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Sunrun Price Performance

NASDAQ:RUN traded down $0.13 during mid-day trading on Thursday, hitting $6.41. 4,860,788 shares of the company's stock traded hands, compared to its average volume of 11,546,294. Sunrun Inc. has a 1 year low of $5.45 and a 1 year high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm's 50 day simple moving average is $7.06 and its 200 day simple moving average is $10.05. The company has a market cap of $1.45 billion, a PE ratio of -3.52 and a beta of 2.74.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating on the stock in a research report on Monday, March 3rd. Truist Financial reiterated a "hold" rating and issued a $6.00 target price (down from $9.00) on shares of Sunrun in a report on Wednesday. TD Cowen cut their price target on shares of Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, February 28th. Susquehanna decreased their price objective on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a report on Monday. Finally, Jefferies Financial Group cut Sunrun from a "buy" rating to a "hold" rating and cut their target price for the stock from $14.00 to $8.00 in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Sunrun currently has an average rating of "Hold" and an average price target of $16.01.

Insiders Place Their Bets

In other news, Director Edward Harris Fenster purchased 150,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the acquisition, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $9.59, for a total value of $479,500.00. Following the completion of the transaction, the director now directly owns 991,753 shares of the company's stock, valued at $9,510,911.27. This represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,540 shares of company stock valued at $1,530,444 in the last quarter. 3.77% of the stock is currently owned by company insiders.

About Sunrun

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.