Sei Investments Co. Purchases 61,612 Shares of Sunrun Inc. $RUN

Sei Investments Co. lifted its position in shares of Sunrun Inc. (NASDAQ:RUN) by 248.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,375 shares of the energy company’s stock after purchasing an additional 61,612 shares during the quarter. Sei Investments Co.’s holdings in Sunrun were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Sunrun by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock valued at $88,375,000 after buying an additional 165,196 shares during the period. Swiss National Bank lifted its holdings in shares of Sunrun by 0.9% during the 1st quarter. Swiss National Bank now owns 459,000 shares of the energy company’s stock worth $6,224,000 after acquiring an additional 4,100 shares during the period. Jennison Associates LLC acquired a new stake in shares of Sunrun during the 1st quarter valued at about $691,000. AMG National Trust Bank acquired a new stake in shares of Sunrun during the 1st quarter valued at about $851,000. Finally, Bleakley Financial Group LLC increased its stake in Sunrun by 25.4% in the first quarter. Bleakley Financial Group LLC now owns 32,362 shares of the energy company’s stock valued at $439,000 after acquiring an additional 6,555 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RUN. Glj Research reissued a “sell” rating and issued a $4.63 price target on shares of Sunrun in a research report on Friday, July 10th. TD Cowen lowered their price objective on Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Citigroup lowered their price objective on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday. Zacks Research cut Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, UBS Group cut their target price on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.04.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. Following the completion of the sale, the director owned 459,091 shares of the company’s stock, valued at $7,308,728.72. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 9,897 shares of the business’s 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 $130,541.43. Following the completion of the transaction, the insider owned 461,715 shares of the company’s stock, valued at $6,090,020.85. This trade represents a 2.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 223,045 shares of company stock valued at $2,934,835. Insiders own 3.55% of the company’s stock.

Sunrun Stock Performance

Shares of NASDAQ:RUN opened at $10.03 on Wednesday. Sunrun Inc. has a twelve month low of $8.61 and a twelve month high of $22.44. The firm has a market cap of $2.42 billion, a PE ratio of 6.78 and a beta of 2.35. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The business has a fifty day moving average of $12.05 and a 200-day moving average of $13.99.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $746.87 million. During the same quarter in the prior year, the company earned $1.07 EPS. The firm’s quarterly revenue was up 52.8% on a year-over-year basis. On average, equities research analysts predict that Sunrun Inc. will post 1.13 EPS for the current fiscal year.

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.