Franklin Resources Inc. Takes Position in Sunrun Inc. (NASDAQ:RUN)

Franklin Resources Inc. bought a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 49,592 shares of the energy company’s stock, valued at approximately $896,000.

A number of other hedge funds also recently added to or reduced their stakes in RUN. International Assets Investment Management LLC raised its holdings in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. raised its holdings in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Sunrun in the 3rd quarter valued at $44,000. Redwood Wealth Management Group LLC acquired a new stake in Sunrun during the 2nd quarter worth $56,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sunrun during the second quarter worth about $104,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sunrun

In other news, insider Jeanna Steele sold 2,624 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $42,902.40. Following the completion of the sale, the insider now directly owns 305,636 shares of the company’s stock, valued at $4,997,148.60. The trade was a 0.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the transaction, the director now directly owns 1,041,753 shares in the company, valued at $9,813,313.26. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,691 shares of company stock worth $2,011,601. Corporate insiders own 3.77% of the company’s stock.

Sunrun Stock Performance

Sunrun stock opened at $9.86 on Monday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.42 and a beta of 2.54. The stock has a fifty day moving average of $11.47 and a two-hundred day moving average of $14.95. Sunrun Inc. has a fifty-two week low of $9.01 and a fifty-two week 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.

Wall Street Analyst Weigh In

RUN has been the subject of a number of recent research reports. Glj Research reiterated a “sell” rating and set a $7.78 price target on shares of Sunrun in a research note on Thursday, November 7th. Roth Mkm decreased their price target on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group dropped their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Oppenheimer dropped their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, TD Cowen assumed coverage on Sunrun in a report on Thursday, December 19th. They issued a “buy” rating and a $21.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Sunrun has an average rating of “Hold” and a consensus price target of $19.21.

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.