Sunrun Inc. $RUN Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in shares of Sunrun Inc. (NASDAQ:RUN) by 15.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,283 shares of the energy company’s stock after selling 9,335 shares during the period. ProShare Advisors LLC’s holdings in Sunrun were worth $428,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sunrun during the 2nd quarter valued at $9,668,000. AGF Management Ltd. bought a new position in Sunrun during the second quarter valued at about $3,458,000. Penserra Capital Management LLC boosted its stake in Sunrun by 263.7% during the second quarter. Penserra Capital Management LLC now owns 16,514 shares of the energy company’s stock valued at $135,000 after buying an additional 11,973 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Sunrun by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,381,123 shares of the energy company’s stock worth $11,298,000 after acquiring an additional 4,909 shares during the period. Finally, Spire Wealth Management raised its position in Sunrun by 960.0% in the second quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock worth $43,000 after acquiring an additional 4,800 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.31, for a total transaction of $965,500.00. Following the transaction, the director directly owned 850,482 shares of the company’s stock, valued at approximately $16,422,807.42. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Paul S. Dickson sold 25,614 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $20.00, for a total value of $512,280.00. Following the sale, the executive owned 655,734 shares of the company’s stock, valued at $13,114,680. The trade was a 3.76% decrease in their ownership of the stock. 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 ninety days. Company insiders own 3.37% of the company’s stock.

Analysts Set New Price Targets

RUN has been the subject of several research reports. Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. BMO Capital Markets set a $19.00 target price on shares of Sunrun and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Oppenheimer raised their target price on shares of Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. upped their price target on Sunrun from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada increased their price objective on Sunrun from $16.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.16.

Sunrun Stock Down 6.0%

Shares of NASDAQ:RUN opened at $17.81 on Friday. The firm has a 50 day simple moving average of $18.86 and a 200 day simple moving average of $13.57. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.44. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The company has a market cap of $4.13 billion, a PE ratio of -1.53 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last posted 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 company’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.37) EPS. As a group, research analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current year.

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.