Clal Insurance Enterprises Holdings Ltd Sells 1,860,000 Shares of Sunrun Inc. $RUN

Clal Insurance Enterprises Holdings Ltd lessened its stake in Sunrun Inc. (NASDAQ:RUN) by 74.4% during the second quarter, Holdings Channel reports. The firm owned 640,000 shares of the energy company’s stock after selling 1,860,000 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Sunrun were worth $5,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Sunrun by 12.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,497 shares of the energy company’s stock valued at $110,000 after acquiring an additional 1,442 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Sunrun by 3.2% in the second quarter. Maryland State Retirement & Pension System now owns 67,148 shares of the energy company’s stock worth $549,000 after purchasing an additional 2,071 shares in the last quarter. Focus Partners Wealth raised its holdings in Sunrun by 21.2% during the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock valued at $74,000 after acquiring an additional 2,226 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Sunrun by 87.1% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock valued at $47,000 after purchasing an additional 2,700 shares during the period. Finally, Norden Group LLC lifted its holdings in shares of Sunrun by 1.5% in the first quarter. Norden Group LLC now owns 195,202 shares of the energy company’s stock worth $1,144,000 after buying an additional 2,876 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Danny Abajian sold 9,055 shares of Sunrun stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $19.35, for a total transaction of $175,214.25. Following the sale, the chief financial officer owned 424,606 shares of the company’s stock, valued at approximately $8,216,126.10. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeanna Steele sold 4,475 shares of Sunrun stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $21.71, for a total transaction of $97,152.25. Following the sale, the insider owned 361,789 shares in the company, valued at approximately $7,854,439.19. The trade was a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 288,612 shares of company stock valued at $5,546,319 in the last three months. 3.37% of the stock is currently owned by insiders.

Sunrun Stock Up 3.5%

RUN opened at $19.22 on Wednesday. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of -1.66 and a beta of 2.35. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The firm has a 50 day moving average price of $18.77 and a 200-day moving average price of $13.50. Sunrun Inc. has a twelve month low of $5.38 and a twelve month high of $22.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $724.56 million for the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.37) EPS. Equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

RUN has been the topic of several recent analyst reports. Citigroup raised Sunrun from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $26.00 in a report on Tuesday, October 21st. UBS Group raised their price objective on Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group lifted their target price on shares of Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on Sunrun from $11.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, October 1st. Finally, Cowen reaffirmed a “buy” rating on shares of Sunrun in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.16.

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.