KLP Kapitalforvaltning AS Takes Position in Sunrun Inc. (NASDAQ:RUN)

KLP Kapitalforvaltning AS bought a new position in Sunrun Inc. (NASDAQ:RUN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 43,500 shares of the energy company’s stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. lifted its holdings in Sunrun by 133.3% during 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 bought a new position in Sunrun in the 3rd quarter worth about $44,000. Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun during the fourth quarter worth approximately $56,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Sunrun during the fourth quarter valued at approximately $94,000. Finally, Alterna Wealth Management Inc. purchased a new stake in shares of Sunrun in the fourth quarter valued at approximately $96,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $6.99 on Friday. Sunrun Inc. has a fifty-two week low of $5.55 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. The company has a market cap of $1.58 billion, a PE ratio of -3.84 and a beta of 2.74. The business has a 50-day simple moving average of $7.61 and a two-hundred day simple moving average of $10.87.

Insider Buying and Selling

In other news, Director Edward Harris Fenster acquired 150,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the sale, the executive now directly owns 418,492 shares of the company’s stock, valued at $4,678,740.56. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,466 shares of company stock worth $1,136,397 in the last three months. Corporate insiders own 3.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RUN. StockNews.com raised Sunrun to a “sell” rating in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Roth Capital set a $20.00 target price on shares of Sunrun in a report on Friday, February 28th. Jefferies Financial Group lowered shares of Sunrun from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $8.00 in a report on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

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.