Sunrun Inc. (NASDAQ:RUN) Shares Sold by Canyon Capital Advisors LLC

Canyon Capital Advisors LLC lowered its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 96.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 858,300 shares of the energy company's stock after selling 22,318,000 shares during the period. Sunrun makes up approximately 1.0% of Canyon Capital Advisors LLC's portfolio, making the stock its 8th biggest holding. Canyon Capital Advisors LLC owned approximately 0.38% of Sunrun worth $7,939,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Sunrun by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company's stock worth $219,679,000 after buying an additional 343,448 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Sunrun by 593.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Sunrun by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock valued at $61,252,000 after purchasing an additional 1,427,858 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Sunrun by 20.8% during the 4th quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company's stock worth $55,582,000 after purchasing an additional 1,035,096 shares during the period. Finally, Erste Asset Management GmbH increased its position in Sunrun by 16.3% during the 4th quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company's stock worth $47,302,000 after purchasing an additional 672,049 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Stock Performance

RUN stock opened at $7.29 on Monday. The firm has a market cap of $1.67 billion, a P/E ratio of -4.01 and a beta of 2.66. The stock's 50 day simple moving average is $6.71 and its 200 day simple moving average is $9.19. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 12-month low of $5.45 and a 12-month high of $22.26.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RUN shares. BMO Capital Markets decreased their price objective on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Morgan Stanley reiterated an "equal weight" rating and issued a $11.00 price target on shares of Sunrun in a report on Wednesday, April 23rd. Jefferies Financial Group cut Sunrun from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $14.00 to $8.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Finally, Truist Financial reissued a "hold" rating and set a $6.00 price target (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.92.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total transaction of $455,000.00. Following the sale, the director now directly owns 941,753 shares in the company, valued at approximately $8,569,952.30. This represents a 5.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Harris Fenster acquired 150,000 shares of Sunrun stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 138,540 shares of company stock valued at $1,050,944. Company insiders own 3.77% of the company's stock.

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.

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