CIBC Asset Management Inc Raises Holdings in Sunrun Inc. (NASDAQ:RUN)

CIBC Asset Management Inc increased its holdings in Sunrun Inc. (NASDAQ:RUN) by 5.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 24,774 shares of the energy company’s stock after acquiring an additional 1,360 shares during the period. CIBC Asset Management Inc’s holdings in Sunrun were worth $229,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in shares of Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after buying an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun during the 3rd quarter worth approximately $44,000. Newbridge Financial Services Group Inc. increased its position in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after buying an additional 2,000 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Sunrun during the fourth quarter worth approximately $56,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the transaction, the director now owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. This trade 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 164,830 shares of company stock valued at $1,572,147. 3.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RUN. TD Cowen started coverage on shares of Sunrun in a research note on Thursday, December 19th. They issued a “buy” rating and a $21.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Tuesday, January 7th. Barclays lowered their price objective on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Glj Research reaffirmed a “sell” rating and set a $7.78 price target on shares of Sunrun in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.36.

Sunrun Stock Performance

Shares of Sunrun stock opened at $8.37 on Wednesday. The firm has a market capitalization of $1.88 billion, a P/E ratio of -4.60 and a beta of 2.59. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The business’s fifty day simple moving average is $9.37 and its 200 day simple moving average is $13.26. Sunrun Inc. has a 12 month low of $7.87 and a 12 month high of $22.26.

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.