Duff & Phelps Investment Management Co. Sells 8,675 Shares of Sunrun Inc. (NASDAQ:RUN)

Duff & Phelps Investment Management Co. trimmed its position in shares of Sunrun Inc. (NASDAQ:RUN) by 17.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,771 shares of the energy company’s stock after selling 8,675 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Sunrun were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Erste Asset Management GmbH purchased a new stake in shares of Sunrun during the 3rd quarter valued at approximately $76,152,000. Sylebra Capital LLC bought a new stake in Sunrun during the 2nd quarter valued at $35,387,000. Greenvale Capital LLP lifted its position in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares in the last quarter. FMR LLC boosted its holdings in shares of Sunrun by 83.6% in the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after acquiring an additional 1,562,163 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Sunrun by 113.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after purchasing an additional 1,337,302 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 2,624 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $42,902.40. Following the transaction, the insider now owns 305,636 shares in the company, valued at approximately $4,997,148.60. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward Harris Fenster sold 4,646 shares of Sunrun stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $18.01, for a total transaction of $83,674.46. Following the completion of the transaction, the director now directly owns 1,202,777 shares in the company, valued at approximately $21,662,013.77. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,337 shares of company stock worth $2,634,276. Company insiders own 3.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RUN. Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $11.00 in a research note on Friday, November 22nd. Oppenheimer cut their price objective on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. UBS Group decreased their target price on shares of Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Wells Fargo & Company cut their price target on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, BMO Capital Markets decreased their price target on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.28.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $11.21 on Tuesday. The stock has a market cap of $2.51 billion, a PE ratio of -6.16 and a beta of 2.54. The company’s fifty day moving average is $13.16 and its 200 day moving average is $15.35. Sunrun Inc. has a 52 week low of $9.23 and a 52 week high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

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.