DnB Asset Management AS Sells 215,695 Shares of Sunrun Inc. (NASDAQ:RUN)

DnB Asset Management AS trimmed its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,889,581 shares of the energy company’s stock after selling 215,695 shares during the quarter. DnB Asset Management AS owned approximately 0.84% of Sunrun worth $17,479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Sunrun by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,170,251 shares of the energy company’s stock worth $39,195,000 after buying an additional 107,391 shares during the period. Cerity Partners LLC raised its stake in Sunrun by 34.9% during the 3rd quarter. Cerity Partners LLC now owns 40,545 shares of the energy company’s stock worth $732,000 after acquiring an additional 10,497 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Sunrun by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 233,551 shares of the energy company’s stock valued at $4,218,000 after purchasing an additional 2,441 shares in the last quarter. FMR LLC increased its stake 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 purchasing an additional 1,562,163 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Sunrun by 26.8% during the 3rd quarter. Townsquare Capital LLC now owns 182,857 shares of the energy company’s stock valued at $3,302,000 after purchasing an additional 38,675 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the sale, the executive now directly owns 418,492 shares of the company’s stock, valued at $4,678,740.56. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $9.59, for a total value of $479,500.00. Following the transaction, the director now directly owns 991,753 shares in the company, valued at $9,510,911.27. The trade was a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,466 shares of company stock worth $1,136,397 in the last 90 days. 3.77% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RUN shares. Wells Fargo & Company decreased 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. The Goldman Sachs Group dropped their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada reduced their price objective on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Truist Financial reaffirmed a “hold” rating and set a $9.00 target price (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Two equities 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 stock. According to MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Stock Down 1.2 %

NASDAQ:RUN opened at $5.94 on Friday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -3.26 and a beta of 2.84. Sunrun Inc. has a twelve month low of $5.91 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. The stock has a fifty day simple moving average of $7.89 and a 200-day simple moving average of $11.30.

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.