Shelton Capital Management Buys New Shares in Sunrun Inc. (NASDAQ:RUN)

Shelton Capital Management purchased a new position in Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 59,699 shares of the energy company’s stock, valued at approximately $552,000.

A number of other large investors have also added to or reduced their stakes in RUN. Aster Capital Management DIFC Ltd bought a new stake in shares of Sunrun during the 4th quarter valued at about $29,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Sunrun during the 3rd quarter valued at about $44,000. Summit Securities Group LLC bought a new stake in shares of Sunrun during the 4th quarter valued at about $53,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Sunrun during the 4th quarter valued at about $56,000. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Roth Capital set a $20.00 target price on shares of Sunrun in a research note on Friday, February 28th. Truist Financial reissued a “hold” rating and set a $9.00 price target (down from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. TD Cowen lowered their price target on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Barclays lowered their price target on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price target on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $6.43 on Thursday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -3.53 and a beta of 2.74. Sunrun Inc. has a 12-month low of $5.45 and a 12-month high of $22.26. The firm has a 50 day moving average of $7.28 and a 200 day moving average of $10.41. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $9.59, for a total transaction of $479,500.00. Following the sale, the director now owns 991,753 shares of the company’s stock, valued at $9,510,911.27. This represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward Harris Fenster purchased 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the purchase, the director now owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 188,540 shares of company stock valued at $1,530,444. 3.77% of the stock is currently owned by corporate insiders.

Sunrun 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.