63,460 Shares in Sunrun Inc. $RUN Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 63,460 shares of the energy company’s stock, valued at approximately $849,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in Sunrun by 156.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after acquiring an additional 885 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Sunrun during the fourth quarter worth about $27,000. Hantz Financial Services Inc. grew its holdings in shares of Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after purchasing an additional 564 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Sunrun in the fourth quarter worth approximately $30,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Sunrun in the fourth quarter valued at approximately $31,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Price Performance

Shares of Sunrun stock opened at $9.16 on Friday. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The business’s 50 day simple moving average is $11.47 and its two-hundred day simple moving average is $13.46. The stock has a market capitalization of $2.21 billion, a P/E ratio of 6.19 and a beta of 2.35. Sunrun Inc. has a one year low of $8.61 and a one year high of $22.44.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.19. The firm had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business’s revenue was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. Analysts forecast that Sunrun Inc. will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RUN shares. Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Citigroup lowered their price objective on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. The Goldman Sachs Group cut their target price on shares of Sunrun from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Wall Street Zen raised Sunrun from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Wells Fargo & Company lowered their price target on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Sunrun has a consensus rating of “Hold” and an average target price of $16.81.

Insider Buying and Selling

In related news, CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the sale, the chief executive officer directly owned 1,111,535 shares in the company, valued at $14,661,146.65. This represents a 2.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,613 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.18, for a total transaction of $205,779.34. Following the sale, the executive directly owned 839,539 shares of the company’s stock, valued at $11,065,124.02. The trade was a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 223,045 shares of company stock valued at $2,934,835 over the last quarter. Company insiders own 3.55% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.