Firsthand Capital Management Inc. Trims Stake in Sunrun Inc. (NASDAQ:RUN)

Firsthand Capital Management Inc. decreased its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 86.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,600 shares of the energy company’s stock after selling 73,400 shares during the period. Firsthand Capital Management Inc.’s holdings in Sunrun were worth $209,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC lifted 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 valued at $31,000 after buying an additional 1,638 shares during the period. Blue Trust Inc. lifted its stake 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 purchasing an additional 1,465 shares during the period. Duncker Streett & Co. Inc. acquired a new stake in shares of Sunrun during the second quarter worth $36,000. CWM LLC increased its stake in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sunrun during the second quarter worth about $45,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 1,937 shares of Sunrun stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $35,311.51. Following the sale, the director now directly owns 1,242,446 shares in the company, valued at $22,649,790.58. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeanna Steele sold 2,357 shares of Sunrun stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $42,968.11. Following the sale, the insider now directly owns 308,260 shares in the company, valued at approximately $5,619,579.80. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,795 shares of company stock valued at $3,071,225 in the last ninety days. Insiders own 3.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Glj Research reaffirmed a “sell” rating and set a $7.78 price target on shares of Sunrun in a research note on Thursday, November 7th. BMO Capital Markets lowered their price objective on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, November 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of Sunrun in a research report on Wednesday, September 25th. Finally, Barclays dropped their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.28.

Sunrun Price Performance

Shares of RUN stock opened at $11.53 on Friday. Sunrun Inc. has a twelve month low of $9.23 and a twelve month high of $22.26. The company has a market capitalization of $2.59 billion, a PE ratio of -6.34 and a beta of 2.61. 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 firm has a fifty day simple moving average of $14.22 and a 200-day simple moving average of $15.36.

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.