Summit Securities Group LLC Acquires Shares of 5,682 Sunrun Inc. (NASDAQ:RUN)

Summit Securities Group LLC acquired a new stake in Sunrun Inc. (NASDAQ:RUN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 5,682 shares of the energy company’s stock, valued at approximately $53,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA lifted its holdings in shares of Sunrun by 31.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 39,432 shares of the energy company’s stock valued at $365,000 after buying an additional 9,380 shares during the period. Norges Bank acquired a new stake in Sunrun in the fourth quarter valued at $31,022,000. Caisse Des Depots ET Consignations acquired a new stake in Sunrun in the fourth quarter valued at $172,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Sunrun by 10.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 43,503 shares of the energy company’s stock worth $402,000 after purchasing an additional 4,242 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Sunrun by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock valued at $219,679,000 after purchasing an additional 343,448 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lowered their price target on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Roth Capital set a $20.00 price target on shares of Sunrun in a report on Friday, February 28th. TD Cowen dropped their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 target price on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Sunrun Price Performance

Shares of RUN stock opened at $5.94 on Monday. The firm has a fifty day simple moving average of $7.89 and a 200-day simple moving average of $11.20. The company has a market capitalization of $1.34 billion, a PE ratio of -3.26 and a beta of 2.84. Sunrun Inc. has a twelve month low of $5.82 and a twelve month high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insiders Place Their Bets

In related news, CFO Danny Abajian sold 3,734 shares of Sunrun stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the sale, the chief financial officer now owns 257,969 shares in the company, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary Powell sold 4,350 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the transaction, the chief executive officer now owns 560,321 shares in the company, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,466 shares of company stock worth $1,136,397 in the last quarter. 3.77% of the stock is owned by corporate insiders.

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.