827,077 Shares in Sunrun Inc. $RUN Bought by Diversify Advisory Services LLC

Diversify Advisory Services LLC purchased a new position in Sunrun Inc. (NASDAQ:RUN) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 827,077 shares of the energy company’s stock, valued at approximately $8,254,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RUN. Farther Finance Advisors LLC raised its holdings in shares of Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sunrun in the 4th quarter valued at about $27,000. Hantz Financial Services Inc. grew its stake in shares of Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after buying an additional 564 shares during the period. Kestra Advisory Services LLC bought a new stake in Sunrun in the 4th quarter valued at about $30,000. Finally, Salomon & Ludwin LLC increased its position in Sunrun by 49.2% in the 4th quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock valued at $31,000 after buying an additional 558 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Sunrun Trading Down 5.8%

NASDAQ:RUN opened at $9.26 on Wednesday. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. Sunrun Inc. has a one year low of $8.61 and a one year high of $22.44. The company has a market cap of $2.23 billion, a PE ratio of 6.26 and a beta of 2.36. The firm has a 50-day moving average of $11.65 and a 200-day moving average of $13.63.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results 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. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. As a group, equities research analysts expect that Sunrun Inc. will post 1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RUN. Glj Research reaffirmed a “sell” rating and set a $4.63 price target on shares of Sunrun in a research note on Monday. Weiss Ratings cut Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada decreased their price objective on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Mizuho set a $18.00 target price on Sunrun in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.81.

Insider Activity

In related news, CFO Danny Abajian sold 16,495 shares of Sunrun stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $217,569.05. Following the transaction, the chief financial officer owned 420,318 shares of the company’s stock, valued at $5,543,994.42. The trade was a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 3,278 shares of Sunrun stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $12.17, for a total value of $39,893.26. Following the transaction, the chief accounting officer directly owned 90,033 shares in the company, valued at approximately $1,095,701.61. The trade was a 3.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 223,045 shares of company stock worth $2,934,835. Company insiders own 3.55% of the company’s stock.

Sunrun Profile

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.