Groupe la Francaise Purchases New Position in Sunrun Inc. $RUN

Groupe la Francaise acquired a new position in shares of Sunrun Inc. (NASDAQ:RUN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 90,851 shares of the energy company’s stock, valued at approximately $1,217,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Contour Asset Management LLC acquired a new stake in shares of Sunrun during the 4th quarter valued at $98,010,000. California State Teachers Retirement System boosted its stake in shares of Sunrun by 1,275.2% during the second quarter. California State Teachers Retirement System now owns 3,674,041 shares of the energy company’s stock valued at $49,159,000 after purchasing an additional 3,406,879 shares in the last quarter. Norges Bank bought a new stake in shares of Sunrun during the fourth quarter worth about $62,169,000. Voloridge Investment Management LLC acquired a new position in shares of Sunrun in the third quarter valued at approximately $40,193,000. Finally, Bank of America Corp DE acquired a new position in shares of Sunrun in the second quarter valued at approximately $29,953,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Price Performance

Sunrun stock opened at $9.22 on Wednesday. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 6.23 and a beta of 2.37. Sunrun Inc. has a 52-week low of $8.22 and a 52-week high of $22.44. 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 stock’s 50 day moving average price is $10.42 and its two-hundred day moving average price is $12.53.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data 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. The company had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. Sunrun’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. On average, equities analysts predict that Sunrun Inc. will post 1.18 earnings per share for the current year.

Insider Transactions at Sunrun

In other news, Director Lynn Jurich sold 50,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the transaction, the director owned 367,405 shares of the company’s stock, valued at $3,659,353.80. This represents a 11.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maria Barak sold 3,278 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.17, for a total value of $39,893.26. Following the completion of the sale, the chief accounting officer owned 90,033 shares of the company’s stock, valued at approximately $1,095,701.61. This represents a 3.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 171,015 shares of company stock valued at $2,111,653. 3.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RUN has been the topic of several recent research reports. Glj Research reiterated a “sell” rating and set a $4.63 target price on shares of Sunrun in a research report on Monday, August 17th. The Goldman Sachs Group dropped their price target on shares of Sunrun from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Mizuho set a $18.00 target price on Sunrun in a research report on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and issued a $20.00 price target on shares of Sunrun in a research note on Thursday, August 6th. Finally, Wells Fargo & Company lowered their price objective on Sunrun from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Twelve 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 data from MarketBeat, Sunrun currently has an average rating of “Hold” and a consensus target price of $16.81.

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.