Bank of Montreal Can Purchases 101,023 Shares of Sunrun Inc. (NASDAQ:RUN)

Bank of Montreal Can grew its position in shares of Sunrun Inc. (NASDAQ:RUN) by 73.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,977 shares of the energy company’s stock after acquiring an additional 101,023 shares during the quarter. Bank of Montreal Can owned about 0.11% of Sunrun worth $2,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Sunrun during the 4th quarter valued at about $31,022,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $18,500,000. Erste Asset Management GmbH boosted its position in shares of Sunrun by 16.3% during the fourth quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company’s stock valued at $47,302,000 after buying an additional 672,049 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Sunrun by 36.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company’s stock worth $17,367,000 after buying an additional 501,918 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Sunrun by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after acquiring an additional 367,835 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $9.59, for a total transaction of $479,500.00. Following the completion of the transaction, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeanna Steele sold 9,942 shares of the company’s 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 $67,009.08. Following the sale, the insider now directly owns 291,238 shares in the company, valued at $1,962,944.12. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,540 shares of company stock worth $1,530,444. 3.77% of the stock is owned by corporate insiders.

Sunrun Trading Down 2.7 %

Shares of RUN stock opened at $6.53 on Thursday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -3.59 and a beta of 2.74. The company’s fifty day simple moving average is $7.06 and its two-hundred day simple moving average is $10.05. Sunrun Inc. has a 1 year low of $5.45 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.

Analyst Upgrades and Downgrades

RUN has been the subject of several recent analyst reports. 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 report on Monday, March 3rd. TD Cowen decreased 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. Jefferies Financial Group cut shares of Sunrun from a “buy” rating to a “hold” rating and dropped their target price for the stock from $14.00 to $8.00 in a research report on Wednesday, March 12th. Susquehanna reduced their target price on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a report on Monday. Finally, Truist Financial reiterated a “hold” rating and set a $6.00 price target (down from $9.00) on shares of Sunrun in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.44.

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.