Price T Rowe Associates Inc. MD Cuts Stock Position in Sunrun Inc. (NASDAQ:RUN)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,158 shares of the energy company's stock after selling 57,571 shares during the period. Price T Rowe Associates Inc. MD owned 0.08% of Sunrun worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in Sunrun during the fourth quarter valued at $402,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Sunrun during the fourth quarter valued at approximately $18,500,000. Charles Schwab Investment Management Inc. lifted its holdings in Sunrun by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock valued at $21,511,000 after buying an additional 155,311 shares during the period. Essex Investment Management Co. LLC bought a new position in Sunrun during the fourth quarter worth about $403,000. Finally, Principal Financial Group Inc. increased its position in shares of Sunrun by 33.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company's stock valued at $26,385,000 after buying an additional 367,835 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RUN. JPMorgan Chase & Co. cut their price objective on shares of Sunrun from $22.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. TD Cowen reduced their target price on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Truist Financial reiterated a "hold" rating and issued a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. BMO Capital Markets decreased their target price on Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Finally, Morgan Stanley restated an "equal weight" rating and set a $11.00 price objective on shares of Sunrun in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.82.

Sunrun Price Performance

NASDAQ:RUN traded up $0.82 during trading hours on Tuesday, reaching $11.78. 39,540,545 shares of the company's stock were exchanged, compared to its average volume of 11,039,887. The business's 50-day simple moving average is $6.85 and its two-hundred day simple moving average is $8.95. The company has a market capitalization of $2.69 billion, a P/E ratio of -6.47 and a beta of 2.66. Sunrun Inc. has a 12 month low of $5.45 and a 12 month high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.42. The firm had revenue of $504.27 million for the quarter, compared to analysts' expectations of $487.29 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. Sell-side analysts expect that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity

In other news, CFO Danny Abajian sold 16,927 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the sale, the chief financial officer now directly owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total transaction of $455,000.00. Following the completion of the transaction, the director now directly owns 941,753 shares in the company, valued at approximately $8,569,952.30. The trade was a 5.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,540 shares of company stock valued at $1,050,944 in the last quarter. Company insiders own 3.77% of the company's stock.

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.