31,787 Shares in Sunrun Inc. (NASDAQ:RUN) Bought by OFI Invest Asset Management

OFI Invest Asset Management bought a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,787 shares of the energy company’s stock, valued at approximately $284,000.

Several other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp raised 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 valued at $905,000 after buying an additional 886 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Sunrun by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after buying an additional 1,360 shares in the last quarter. Drive Wealth Management LLC increased its stake in shares of Sunrun by 4.5% in the third quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company’s stock worth $782,000 after purchasing an additional 1,884 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of 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 purchasing an additional 2,000 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Sunrun by 8.3% in the third quarter. QRG Capital Management Inc. now owns 30,135 shares of the energy company’s stock worth $544,000 after purchasing an additional 2,317 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada dropped their price objective on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. TD Cowen decreased their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, February 28th. BMO Capital Markets cut their target price on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday, March 3rd. Roth Capital set a $20.00 price objective on shares of Sunrun in a research report on Friday, February 28th. Finally, UBS Group dropped their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus price target of $17.63.

Sunrun Price Performance

Shares of RUN stock opened at $6.99 on Tuesday. Sunrun Inc. has a 12-month low of $5.93 and a 12-month high of $22.26. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.84 and a beta of 2.84. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a fifty day moving average of $8.95 and a 200-day moving average of $12.59.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the transaction, the director now directly owns 1,041,753 shares of the company’s stock, valued at approximately $9,813,313.26. This represents a 4.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Danny Abajian sold 3,734 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the transaction, the chief financial officer now directly owns 257,969 shares of the company’s stock, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,466 shares of company stock valued at $1,607,397 in the last quarter. Company insiders own 3.77% of the company’s stock.

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.