Natixis Advisors L.P. decreased its position in Sunrun Inc (NASDAQ:RUN) by 3.5% during the 2nd quarter, Holdings Channel reports. The firm owned 71,491 shares of the energy company’s stock after selling 2,588 shares during the quarter. Natixis Advisors L.P.’s holdings in Sunrun were worth $1,341,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Brightline Capital Management LLC grew its holdings in Sunrun by 215.0% in the second quarter. Brightline Capital Management LLC now owns 630,000 shares of the energy company’s stock valued at $11,819,000 after purchasing an additional 430,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sunrun by 10.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 523,905 shares of the energy company’s stock valued at $9,829,000 after acquiring an additional 50,179 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Sunrun in the second quarter valued at $709,000. Bank of Montreal Can lifted its position in shares of Sunrun by 301.5% in the second quarter. Bank of Montreal Can now owns 12,977 shares of the energy company’s stock valued at $243,000 after acquiring an additional 9,745 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Sunrun in the second quarter valued at $329,000. 83.18% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on RUN. Goldman Sachs Group upgraded Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, June 17th. Zacks Investment Research upgraded Sunrun from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 10th. Roth Capital set a $24.00 target price on Sunrun and gave the stock a “buy” rating in a research report on Thursday, May 23rd. BidaskClub upgraded Sunrun from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, KeyCorp began coverage on Sunrun in a research report on Monday, August 19th. They set an “overweight” rating and a $19.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Sunrun has an average rating of “Buy” and a consensus price target of $21.36.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.18). The firm had revenue of $204.60 million during the quarter, compared to analysts’ expectations of $198.78 million. Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 earnings per share. Sell-side analysts forecast that Sunrun Inc will post 0.5 EPS for the current year.
In other news, major shareholder Tiger Global Management Llc acquired 1,016,343 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were bought at an average cost of $18.62 per share, for a total transaction of $18,924,306.66. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Global Long Opportunitie Tiger acquired 650,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $15.06 per share, for a total transaction of $9,789,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 6,461,661 shares of company stock worth $106,980,274 and sold 257,979 shares worth $5,113,659. Company insiders own 9.34% of the company’s stock.
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.
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