IPG Investment Advisors LLC lessened its holdings in shares of Sunrun Inc. (NASDAQ:RUN – Get Rating) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,905 shares of the energy company’s stock after selling 595 shares during the quarter. IPG Investment Advisors LLC’s holdings in Sunrun were worth $580,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. bought a new position in Sunrun during the 1st quarter worth approximately $732,000. OLD Mission Capital LLC bought a new position in Sunrun during the 3rd quarter worth approximately $858,000. US Bancorp DE lifted its holdings in Sunrun by 42.1% during the 3rd quarter. US Bancorp DE now owns 5,247 shares of the energy company’s stock worth $231,000 after buying an additional 1,555 shares during the last quarter. American Century Companies Inc. lifted its holdings in Sunrun by 21.8% during the 3rd quarter. American Century Companies Inc. now owns 8,212 shares of the energy company’s stock worth $361,000 after buying an additional 1,469 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in Sunrun by 36.0% during the 3rd quarter. First Republic Investment Management Inc. now owns 15,662 shares of the energy company’s stock worth $689,000 after buying an additional 4,147 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.
In other Sunrun news, insider Jeanna Steele sold 4,655 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $26.25, for a total transaction of $122,193.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas Arthur Vonreichbauer sold 5,089 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $22.91, for a total value of $116,588.99. Following the transaction, the chief financial officer now directly owns 231,502 shares in the company, valued at approximately $5,303,710.82. The disclosure for this sale can be found here. Insiders have sold 42,748 shares of company stock worth $1,225,347 in the last quarter. 4.40% of the stock is currently owned by corporate insiders.
Sunrun (NASDAQ:RUN – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The energy company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.38). The firm had revenue of $495.78 million during the quarter, compared to the consensus estimate of $401.60 million. Sunrun had a negative net margin of 8.10% and a negative return on equity of 1.64%. The business’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, equities analysts forecast that Sunrun Inc. will post -1 earnings per share for the current fiscal year.
RUN has been the subject of a number of recent research reports. Susquehanna restated a “buy” rating and set a $44.00 price objective on shares of Sunrun in a research note on Friday, February 18th. Zacks Investment Research upgraded Sunrun from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 12th. Needham & Company LLC lowered their price objective on Sunrun from $70.00 to $41.00 in a research note on Thursday, February 3rd. Evercore ISI restated a “buy” rating and set a $75.00 price objective on shares of Sunrun in a research note on Friday, February 18th. Finally, Roth Capital restated a “buy” rating on shares of Sunrun in a research note on Tuesday, February 15th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunrun currently has an average rating of “Buy” and an average target price of $57.92.
About Sunrun (Get Rating)
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.
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