Fox Run Management L.L.C. Buys New Shares in Sunrun Inc. (NASDAQ:RUN)

Fox Run Management L.L.C. purchased a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,793 shares of the energy company’s stock, valued at approximately $100,000.

A number of other hedge funds also recently made changes to their positions in RUN. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Sunrun in the 4th quarter worth $18,500,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Sunrun by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock worth $21,511,000 after purchasing an additional 155,311 shares during the period. Erste Asset Management GmbH acquired a new stake in Sunrun during the 3rd quarter worth approximately $76,152,000. Essex Investment Management Co. LLC purchased a new position in Sunrun in the fourth quarter valued at approximately $403,000. Finally, Principal Financial Group Inc. lifted its position in Sunrun by 33.7% during the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after buying an additional 367,835 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity at Sunrun

In related news, CRO Paul S. Dickson sold 2,968 shares of the company’s 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 transaction, the executive now directly owns 418,492 shares in the company, valued at $4,678,740.56. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the purchase, the director now directly owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. The trade was a 12.42 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 121,466 shares of company stock valued at $1,136,397 in the last quarter. Insiders own 3.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RUN shares. BMO Capital Markets reduced their target price on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Truist Financial reiterated a “hold” rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. TD Cowen reduced their price target on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reduced their target price 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Sunrun Stock Down 1.2 %

Shares of NASDAQ:RUN opened at $5.94 on Friday. The company’s fifty day moving average is $7.89 and its two-hundred day moving average is $11.30. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun Inc. has a 1-year low of $5.91 and a 1-year high of $22.26. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.26 and a beta of 2.84.

Sunrun Profile

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.