QRG Capital Management Inc. Has $145,000 Position in Sunrun Inc. (NASDAQ:RUN)

QRG Capital Management Inc. cut its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 47.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,727 shares of the energy company’s stock after selling 14,408 shares during the quarter. QRG Capital Management Inc.’s holdings in Sunrun were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RUN. International Assets Investment Management LLC grew its holdings in Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after buying an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Sunrun in the 3rd quarter valued at $44,000. Union Bancaire Privee UBP SA acquired a new position in Sunrun in the 4th quarter valued at $56,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Sunrun in the 4th quarter valued at $94,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Danny Abajian sold 3,734 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the transaction, the chief financial officer now owns 257,969 shares of the company’s stock, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,466 shares of company stock valued at $1,607,397. 3.77% of the stock is currently owned by corporate insiders.

Sunrun Stock Performance

Shares of RUN stock opened at $7.16 on Friday. The business’s 50-day moving average price is $9.01 and its 200-day moving average price is $12.77. Sunrun Inc. has a 12 month low of $5.93 and a 12 month high of $22.26. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -3.93 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.

Analyst Upgrades and Downgrades

RUN has been the subject of a number of recent analyst reports. Morgan Stanley cut their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and cut their target price for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Barclays cut their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. TD Cowen cut their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Roth Mkm cut their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.51.

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.