Raymond James Financial Inc. Acquires Shares of 93,710 Sunrun Inc. (NASDAQ:RUN)

Raymond James Financial Inc. bought a new position in Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 93,710 shares of the energy company’s stock, valued at approximately $867,000.

Several other institutional investors also recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Sunrun in the fourth quarter worth $18,500,000. Charles Schwab Investment Management Inc. increased its stake in Sunrun by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock valued at $21,511,000 after purchasing an additional 155,311 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after buying an additional 367,835 shares during the last quarter. Nicola Wealth Management LTD. lifted its stake in shares of Sunrun by 54.9% in the fourth quarter. Nicola Wealth Management LTD. now owns 158,000 shares of the energy company’s stock worth $1,462,000 after buying an additional 56,000 shares in the last quarter. Finally, RWC Asset Management LLP grew its holdings in shares of Sunrun by 103.7% during the fourth quarter. RWC Asset Management LLP now owns 492,403 shares of the energy company’s stock valued at $4,555,000 after buying an additional 250,714 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RUN has been the topic of several recent analyst reports. Barclays dropped their price objective on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group cut shares of Sunrun from a “buy” rating to a “hold” rating and decreased their price objective for the company from $14.00 to $8.00 in a report on Wednesday, March 12th. Roth Capital set a $20.00 target price on shares of Sunrun in a report on Friday, February 28th. Truist Financial reiterated a “hold” rating and set a $9.00 target price (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Sunrun Stock Up 6.1 %

Shares of RUN opened at $6.99 on Friday. The business’s 50 day simple moving average is $7.61 and its 200-day simple moving average is $10.87. Sunrun Inc. has a 1 year low of $5.55 and a 1 year high of $22.26. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.84 and a beta of 2.74.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the sale, the director now directly owns 941,753 shares of the company’s stock, valued at $8,569,952.30. This represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were acquired 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 of the company’s stock, 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 quarter, insiders sold 121,466 shares of company stock worth $1,136,397. Corporate insiders own 3.77% of the company’s stock.

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.