Sunrun Inc. (NASDAQ:RUN) Position Boosted by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in Sunrun Inc. (NASDAQ:RUN) by 39.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,348 shares of the energy company’s stock after buying an additional 21,924 shares during the quarter. ProShare Advisors LLC’s holdings in Sunrun were worth $715,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Sunrun by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after purchasing an additional 1,360 shares during the period. Guggenheim Capital LLC grew its holdings in Sunrun by 6.8% during the fourth quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock worth $253,000 after acquiring an additional 1,749 shares during the period. Xponance Inc. raised its position in Sunrun by 13.2% in the fourth quarter. Xponance Inc. now owns 16,265 shares of the energy company’s stock worth $150,000 after acquiring an additional 1,895 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in Sunrun by 133.3% in the fourth 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. Finally, Scotia Capital Inc. raised its position in Sunrun by 17.7% in the fourth quarter. Scotia Capital Inc. now owns 14,377 shares of the energy company’s stock worth $133,000 after acquiring an additional 2,157 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RUN shares. BMO Capital Markets cut shares of Sunrun from a “hold” rating to a “strong sell” rating and dropped their price target for the stock from $9.00 to $4.00 in a research report on Thursday. BNP Paribas cut shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Wall Street Zen upgraded shares of Sunrun to a “sell” rating in a research report on Thursday, May 8th. Citigroup reiterated a “neutral” rating and issued a $7.00 price target on shares of Sunrun in a research report on Thursday, April 17th. Finally, Roth Capital set a $20.00 price target on shares of Sunrun in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Sunrun has a consensus rating of “Hold” and a consensus price target of $14.47.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 31,197 shares of the business’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 value of $210,267.78. Following the completion of the sale, the chief executive officer now owns 534,615 shares of the company’s stock, valued at approximately $3,603,305.10. The trade was a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward Harris Fenster purchased 50,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $10.87 per share, with a total value of $543,500.00. Following the purchase, the director now owns 1,408,182 shares in the company, valued at $15,306,938.34. This represents a 3.68% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 88,540 shares of company stock valued at $595,944 in the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Sunrun Trading Up 2.5%

NASDAQ:RUN opened at $6.88 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $22.26. The stock’s 50-day moving average is $7.57 and its two-hundred day moving average is $8.75. The stock has a market cap of $1.57 billion, a PE ratio of -3.78 and a beta of 2.66.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company had revenue of $504.27 million for the quarter, compared to analysts’ expectations of $487.29 million. During the same quarter in the previous year, the business posted ($0.40) EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Sunrun 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.