Handelsbanken Fonder AB Trims Stock Position in Sunrun Inc. $RUN

Handelsbanken Fonder AB lessened its stake in Sunrun Inc. (NASDAQ:RUN) by 61.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,318,273 shares of the energy company’s stock after selling 2,070,654 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sunrun were worth $17,638,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after acquiring an additional 885 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Sunrun in the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. lifted its holdings in Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after acquiring an additional 564 shares during the period. Kestra Advisory Services LLC purchased a new stake in Sunrun in the 4th quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC boosted its position in Sunrun by 49.2% in the 4th quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock worth $31,000 after purchasing an additional 558 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RUN shares. Glj Research reaffirmed a “sell” rating and set a $4.63 target price on shares of Sunrun in a report on Friday, July 10th. Royal Bank Of Canada lowered their price target on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. dropped their price target on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Citigroup cut their price objective on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.04.

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 23,985 shares of Sunrun stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $316,362.15. Following the sale, the chief executive officer owned 1,111,535 shares in the company, valued at $14,661,146.65. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. Following the sale, the director directly owned 459,091 shares of the company’s stock, valued at $7,308,728.72. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 223,045 shares of company stock valued at $2,934,835. Insiders own 3.55% of the company’s stock.

Sunrun Trading Down 1.9%

Shares of RUN stock opened at $9.84 on Thursday. Sunrun Inc. has a 1-year low of $8.61 and a 1-year high of $22.44. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 6.65 and a beta of 2.35. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $13.93.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. The firm had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. On average, equities research analysts expect that Sunrun Inc. will post 1.13 EPS for the current fiscal year.

Sunrun Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.