Invesco Ltd. Raises Stock Position in Sunrun Inc. (NASDAQ:RUN)

Invesco Ltd. raised its holdings in Sunrun Inc. (NASDAQ:RUN) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,008,879 shares of the energy company’s stock after purchasing an additional 1,035,096 shares during the quarter. Invesco Ltd. owned 2.68% of Sunrun worth $55,582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Sunrun in the 3rd quarter valued at $44,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Sunrun in the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Sunrun during the 4th quarter valued at about $53,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun in the 4th quarter valued at about $56,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RUN has been the topic of a number of recent analyst reports. UBS Group lowered their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Truist Financial reiterated a “hold” rating and set a $9.00 target price (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. StockNews.com raised shares of Sunrun to a “sell” rating in a report on Friday, December 20th. Jefferies Financial Group downgraded 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. Finally, Susquehanna cut their target price on shares of Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a research note on Monday. Two equities 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, Sunrun has an average rating of “Moderate Buy” and a consensus price target of $16.58.

Insider Transactions at Sunrun

In related news, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the transaction, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. This represents a 12.42 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 16,927 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the transaction, the chief financial officer now owns 231,279 shares of the company’s stock, valued at $1,558,820.46. This represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,540 shares of company stock valued at $1,530,444. 3.77% of the stock is currently owned by corporate insiders.

Sunrun Stock Performance

NASDAQ:RUN opened at $6.71 on Wednesday. The stock has a market capitalization of $1.52 billion, a P/E ratio of -3.69 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $22.26. The company has a 50 day moving average price of $7.10 and a 200 day moving average price of $10.07.

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.