Contour Asset Management LLC Buys New Shares in Sunrun Inc. $RUN

Contour Asset Management LLC bought a new stake in Sunrun Inc. (NASDAQ:RUN) during the 4th quarter, HoldingsChannel reports. The firm bought 5,326,628 shares of the energy company’s stock, valued at approximately $98,010,000. Sunrun makes up 2.3% of Contour Asset Management LLC’s investment portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of RUN. Royal Bank of Canada lifted its holdings in Sunrun by 5.1% in the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock valued at $3,672,000 after buying an additional 30,175 shares during the period. Integrated Wealth Concepts LLC lifted 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 buying an additional 10,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 buying an additional 5,882 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of 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 purchasing an additional 22,603 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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 purchasing an additional 718,955 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 76,478 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,013,333.50. Following the completion of the sale, the insider directly owned 384,538 shares of the company’s stock, valued at approximately $5,095,128.50. This represents a 16.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 193,002 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the completion of the sale, the chief executive officer directly owned 934,282 shares of the company’s stock, valued at $12,379,236.50. The trade was a 17.12% decrease in their ownership of the stock. 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 sold a total of 694,816 shares of company stock worth $9,366,473 in the last ninety days. 3.55% of the stock is owned by corporate insiders.

Sunrun Trading Down 1.6%

Shares of RUN stock opened at $12.44 on Thursday. Sunrun Inc. has a 52-week low of $5.51 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The company has a 50-day simple moving average of $13.52 and a two-hundred day simple moving average of $15.84. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 5.84 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. Research analysts anticipate that Sunrun Inc. will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RUN shares. Citigroup dropped their price objective on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price objective on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $17.00 price objective on shares of Sunrun in a report on Friday, May 8th. Weiss Ratings lowered shares of Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 9th. Finally, Barclays dropped their price objective on shares of Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Sunrun currently has an average rating of “Hold” and an average price target of $18.98.

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.