Renaissance Technologies LLC Boosts Stock Holdings in Sunrun Inc. $RUN

Renaissance Technologies LLC raised its stake in Sunrun Inc. (NASDAQ:RUN) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,065,245 shares of the energy company’s stock after purchasing an additional 232,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Sunrun were worth $28,005,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Sunrun by 5.1% during the 1st quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after buying an additional 30,175 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after acquiring an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sunrun by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock valued at $1,397,000 after acquiring an additional 5,882 shares during the last quarter. Jones Financial Companies Lllp grew its position in Sunrun by 511.0% during the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after acquiring an additional 22,603 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Sunrun by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after acquiring an additional 718,955 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. Following the sale, the director directly owned 459,091 shares of the company’s stock, valued at approximately $7,308,728.72. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the completion of the transaction, the insider owned 461,715 shares in the company, valued at approximately $6,090,020.85. This trade represents a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 223,045 shares of company stock worth $3,081,335 over the last three months. Insiders own 3.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Glj Research restated a “sell” rating and set a $4.63 price target on shares of Sunrun in a research note on Friday, July 10th. Barclays dropped their target price on shares of Sunrun from $23.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. Jefferies Financial Group decreased their price objective on shares of Sunrun from $22.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Susquehanna dropped their price objective on shares of Sunrun from $19.00 to $18.00 and set a “positive” rating for the company in a research report on Friday, July 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $18.00 target price on shares of Sunrun in a research note on Thursday, May 7th. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.81.

Sunrun Trading Down 3.5%

RUN opened at $9.63 on Wednesday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 4.52 and a beta of 2.32. The firm’s 50 day moving average is $13.06 and its 200-day moving average is $14.56. Sunrun Inc. has a 52-week low of $9.01 and a 52-week high of $22.44. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.67. The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The business’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. Analysts expect that Sunrun Inc. will post 1.01 EPS for the current fiscal year.

Sunrun Company 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.