American International Group Inc. Sells 12,622 Shares of Sunrun Inc. (NASDAQ:RUN)

American International Group Inc. lowered its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 293,314 shares of the energy company’s stock after selling 12,622 shares during the period. American International Group Inc. owned about 0.13% of Sunrun worth $5,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Sunrun by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock worth $243,728,000 after purchasing an additional 126,321 shares during the period. Greenvale Capital LLP boosted its stake in Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after purchasing an additional 1,100,000 shares during the last quarter. Invesco Ltd. grew its holdings in Sunrun by 6.2% during the third quarter. Invesco Ltd. now owns 7,137,991 shares of the energy company’s stock worth $89,653,000 after buying an additional 416,747 shares in the last quarter. Robeco Schweiz AG raised its holdings in shares of Sunrun by 4.3% in the fourth quarter. Robeco Schweiz AG now owns 3,735,300 shares of the energy company’s stock valued at $73,324,000 after purchasing an additional 154,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Sunrun by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,781,951 shares of the energy company’s stock valued at $54,617,000 after buying an additional 179,688 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RUN has been the topic of a number of research reports. Truist Financial reaffirmed a “hold” rating and issued a $14.00 price target (down previously from $15.00) on shares of Sunrun in a report on Monday, February 26th. Jefferies Financial Group cut their price objective on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Mizuho reduced their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Morgan Stanley lifted their price objective on shares of Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Finally, Susquehanna decreased their target price on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a research report on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.47.

Sunrun Stock Performance

Sunrun stock opened at $13.09 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. Sunrun Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $23.85. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -1.96 and a beta of 2.65. The stock’s 50 day simple moving average is $12.24 and its two-hundred day simple moving average is $13.62.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The business had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. During the same quarter in the previous year, the firm posted ($1.12) earnings per share. Sunrun’s quarterly revenue was down 22.3% on a year-over-year basis. As a group, analysts expect that Sunrun Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Mary Powell sold 22,549 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.07, for a total transaction of $272,166.43. Following the completion of the sale, the chief executive officer now owns 379,768 shares of the company’s stock, valued at $4,583,799.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Danny Abajian sold 2,092 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $14.43, for a total transaction of $30,187.56. Following the completion of the sale, the chief financial officer now owns 288,448 shares of the company’s stock, valued at approximately $4,162,304.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary Powell sold 22,549 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.07, for a total transaction of $272,166.43. Following the sale, the chief executive officer now directly owns 379,768 shares of the company’s stock, valued at $4,583,799.76. The disclosure for this sale can be found here. Insiders sold 377,143 shares of company stock worth $4,897,079 over the last three months. 3.76% of the stock is currently owned by corporate 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.