Edgestream Partners L.P. Buys 78,758 Shares of Sunrun Inc. (NASDAQ:RUN)

Edgestream Partners L.P. lifted its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 771.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,968 shares of the energy company’s stock after acquiring an additional 78,758 shares during the period. Edgestream Partners L.P.’s holdings in Sunrun were worth $1,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Sunrun by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after acquiring an additional 691 shares in the last quarter. Creative Planning lifted its position in shares of Sunrun by 0.3% in the third quarter. Creative Planning now owns 290,259 shares of the energy company’s stock worth $5,242,000 after purchasing an additional 784 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Sunrun by 1.8% during the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after purchasing an additional 886 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Sunrun by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after purchasing an additional 895 shares in the last quarter. Finally, &PARTNERS increased its stake in Sunrun by 1.6% in the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after buying an additional 1,019 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sunrun news, CEO Mary Powell sold 3,410 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $62,164.30. Following the transaction, the chief executive officer now owns 575,783 shares in the company, valued at $10,496,524.09. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total value of $497,000.00. Following the sale, the director now owns 1,092,446 shares of the company’s stock, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,719 shares of company stock valued at $2,859,999. 3.77% of the stock is owned by company insiders.

Sunrun Stock Performance

RUN opened at $11.26 on Wednesday. The stock has a fifty day moving average of $13.93 and a 200-day moving average of $15.40. Sunrun Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Wall Street Analyst Weigh In

RUN has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Susquehanna decreased their price target on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. UBS Group dropped their price objective on Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 target price on shares of Sunrun in a research note on Wednesday, September 25th. Finally, Truist Financial reaffirmed a “hold” rating and set a $12.00 price target (down from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.28.

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.