Allworth Financial LP Reduces Stock Holdings in Sunrun Inc. (NASDAQ:RUN)
Allworth Financial LP decreased its stake in Sunrun Inc. (NASDAQ:RUN) by 5.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,250 shares of the energy company’s stock after selling 250 shares during the period. Allworth Financial LP’s holdings in Sunrun were worth $295,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. IFP Advisors Inc bought a new stake in shares of Sunrun during the 3rd quarter worth approximately $25,000. Dimension Capital Management LLC purchased a new position in Sunrun during the 3rd quarter worth $32,000. Exchange Traded Concepts LLC purchased a new stake in Sunrun during the 4th quarter valued at about $35,000. International Assets Investment Management LLC purchased a new stake in Sunrun during the 4th quarter valued at about $35,000. Finally, PNC Financial Services Group Inc. grew its stake in Sunrun by 17.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,223 shares of the energy company’s stock valued at $44,000 after purchasing an additional 328 shares during the last quarter. 85.35% of the stock is owned by hedge funds and other institutional investors.
In related news, CAO Michelle Philpot sold 10,000 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $60.36, for a total value of $603,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,686 shares in the company, valued at $3,361,206.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lynn Michelle Jurich sold 16,142 shares of the stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $61.78, for a total value of $997,252.76. Following the completion of the transaction, the chief executive officer now owns 3,029,875 shares of the company’s stock, valued at $187,185,677.50. The disclosure for this sale can be found here. Insiders sold 1,672,747 shares of company stock valued at $109,832,241 over the last 90 days. Company insiders own 8.55% of the company’s stock.
Several analysts have weighed in on the company. Barclays boosted their price target on Sunrun from $57.00 to $68.00 and gave the company an “overweight” rating in a research note on Monday, November 16th. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, November 6th. Simmons assumed coverage on Sunrun in a research note on Wednesday, October 7th. They set a “neutral” rating and a $70.00 price target on the stock. Credit Suisse Group downgraded Sunrun from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $68.00 to $79.00 in a research note on Wednesday, January 20th. Finally, Truist assumed coverage on Sunrun in a research note on Tuesday, January 12th. They set a “buy” rating and a $116.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.82.
Shares of Sunrun stock opened at $69.82 on Thursday. The business has a 50 day simple moving average of $75.13 and a two-hundred day simple moving average of $60.03. Sunrun Inc. has a 12 month low of $7.84 and a 12 month high of $100.93. The stock has a market capitalization of $13.79 billion, a P/E ratio of 1,745.94 and a beta of 2.32. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.08 and a quick ratio of 0.78.
Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Thursday, November 5th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.26. The business had revenue of $209.70 million during the quarter, compared to analyst estimates of $209.38 million. Sunrun had a return on equity of 0.65% and a net margin of 1.00%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, research analysts anticipate that Sunrun Inc. will post 0.01 EPS for the current fiscal year.
About Sunrun
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, as well as solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems.
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