Drive Wealth Management LLC Boosts Stock Position in Sunrun Inc. $RUN

Drive Wealth Management LLC raised its stake in Sunrun Inc. (NASDAQ:RUN) by 101.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,290 shares of the energy company’s stock after purchasing an additional 48,477 shares during the quarter. Drive Wealth Management LLC’s holdings in Sunrun were worth $788,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Sunrun by 14.7% during the first quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company’s stock worth $72,000 after purchasing an additional 1,571 shares during the period. Alterna Wealth Management Inc. boosted its holdings in shares of Sunrun by 16.6% in the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company’s stock valued at $71,000 after acquiring an additional 1,720 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Sunrun by 3.2% during the second quarter. Maryland State Retirement & Pension System now owns 67,148 shares of the energy company’s stock worth $549,000 after acquiring an additional 2,071 shares during the period. Focus Partners Wealth raised its holdings in Sunrun by 21.2% during the first quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock worth $74,000 after purchasing an additional 2,226 shares in the last quarter. Finally, 49 Wealth Management LLC lifted its position in Sunrun by 21.1% in the first quarter. 49 Wealth Management LLC now owns 14,759 shares of the energy company’s stock valued at $86,000 after purchasing an additional 2,567 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

RUN has been the topic of several recent analyst reports. BNP Paribas Exane upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Monday, July 7th. Susquehanna upped their price objective on Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Glj Research upgraded shares of Sunrun from a “sell” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Jefferies Financial Group raised shares of Sunrun from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $21.00 in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and a consensus target price of $17.08.

Sunrun Stock Performance

Shares of RUN opened at $19.51 on Monday. Sunrun Inc. has a 12-month low of $5.38 and a 12-month high of $22.44. The stock has a market cap of $4.50 billion, a P/E ratio of -1.68 and a beta of 2.41. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. The company has a 50-day moving average of $16.78 and a two-hundred day moving average of $11.46.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.25. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The business had revenue of $569.34 million during the quarter, compared to analysts’ expectations of $555.42 million. During the same period last year, the company posted $0.55 EPS. The company’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity at Sunrun

In other news, CRO Paul S. Dickson sold 25,614 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $20.00, for a total value of $512,280.00. Following the completion of the transaction, the executive directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeanna Steele sold 21,037 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $20.25, for a total value of $425,999.25. Following the completion of the sale, the insider owned 366,264 shares in the company, valued at $7,416,846. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 266,956 shares of company stock valued at $4,931,665 in the last ninety days. 3.37% of the stock is owned by insiders.

Sunrun Company Profile

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.