Arizona State Retirement System Boosts Position in Sunrun Inc. (NASDAQ:RUN)

Arizona State Retirement System boosted its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,475 shares of the energy company’s stock after buying an additional 1,597 shares during the quarter. Arizona State Retirement System’s holdings in Sunrun were worth $729,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RUN. Vanguard Group Inc. boosted its holdings in shares of Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after purchasing an additional 2,743,148 shares during the period. Norges Bank purchased a new stake in shares of Sunrun in the 4th quarter worth $23,186,000. Greenvale Capital LLP grew its position in shares of Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after buying an additional 1,100,000 shares in the last quarter. Masters Capital Management LLC purchased a new position in shares of Sunrun during the fourth quarter valued at $19,630,000. Finally, Robeco Schweiz AG raised its holdings in shares of Sunrun by 23.5% in the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock valued at $60,777,000 after acquiring an additional 876,000 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Stock Up 2.4 %

Shares of RUN stock opened at $19.23 on Monday. Sunrun Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $22.26. The firm has a market capitalization of $4.30 billion, a PE ratio of -2.88 and a beta of 2.59. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The stock’s 50-day simple moving average is $18.05 and its 200-day simple moving average is $14.17.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the prior year, the company earned $0.25 EPS. Sunrun’s quarterly revenue was down 11.2% on a year-over-year basis. Equities analysts expect that Sunrun Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.11, for a total value of $605,500.00. Following the sale, the director now directly owns 1,344,383 shares of the company’s stock, valued at $16,280,478.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.11, for a total value of $605,500.00. Following the completion of the transaction, the director now directly owns 1,344,383 shares of the company’s stock, valued at $16,280,478.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Danny Abajian sold 4,662 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.62, for a total value of $58,834.44. Following the completion of the sale, the chief financial officer now owns 283,098 shares in the company, valued at approximately $3,572,696.76. The disclosure for this sale can be found here. Insiders sold a total of 178,675 shares of company stock valued at $2,848,789 over the last 90 days. Insiders own 3.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RUN. Evercore ISI cut their target price on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. UBS Group boosted their price objective on shares of Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler increased their target price on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on Sunrun from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Truist Financial restated a “hold” rating and set a $18.00 price objective (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.98.

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.