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

Raymond James Financial Inc. bought a new position in Sunrun Inc. (NASDAQ:RUN) in the 4th quarter, Holdings Channel reports. The firm bought 93,710 shares of the energy company’s stock, valued at approximately $867,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RUN. State Street Corp increased its holdings in Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after buying an additional 54,329 shares during the period. Geode Capital Management LLC boosted its position in Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after acquiring an additional 30,549 shares in the last quarter. FMR LLC increased its holdings in shares of Sunrun by 83.6% in the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after acquiring an additional 1,562,163 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Sunrun by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock worth $21,511,000 after acquiring an additional 155,311 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Sunrun during the 4th quarter worth $18,500,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 6.1 %

Shares of Sunrun stock opened at $6.99 on Friday. The stock has a market cap of $1.58 billion, a PE ratio of -3.84 and a beta of 2.74. The firm has a fifty day moving average price of $7.61 and a 200 day moving average price of $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.

Insider Buying and Selling at Sunrun

In related news, Director Edward Harris Fenster purchased 150,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the purchase, the director now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $9.59, for a total transaction of $479,500.00. Following the completion of the sale, the director now directly owns 991,753 shares of the company’s stock, valued at approximately $9,510,911.27. The trade was a 4.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,466 shares of company stock worth $1,136,397. Insiders own 3.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. TD Cowen reduced their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group lowered their target price on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Barclays reduced their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average price target of $17.20.

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.