Freestone Grove Partners LP Invests $3.78 Million in Sunrun Inc. $RUN

Freestone Grove Partners LP bought a new position in shares of Sunrun Inc. (NASDAQ:RUN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 282,746 shares of the energy company’s stock, valued at approximately $3,783,000. Freestone Grove Partners LP owned about 0.12% of Sunrun at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake 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 valued at $3,672,000 after buying an additional 30,175 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock worth $192,000 after buying an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sunrun by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after acquiring an additional 5,882 shares during the period. Jones Financial Companies Lllp raised 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised 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 in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Sunrun news, CEO Mary Powell sold 23,985 shares of Sunrun stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the transaction, the chief executive officer directly owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,495 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $217,569.05. Following the completion of the transaction, the chief financial officer owned 420,318 shares in the company, valued at $5,543,994.42. The trade was a 3.78% 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. In the last 90 days, insiders have sold 223,045 shares of company stock worth $2,934,835. Insiders own 3.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Glj Research restated a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a research report on Monday, August 17th. TD Cowen cut their target price on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Roth Capital reiterated a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Susquehanna dropped their target price on Sunrun from $18.00 to $15.00 and set a “positive” rating on the stock in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.81.

Sunrun Price Performance

RUN stock opened at $8.78 on Friday. Sunrun Inc. has a 1 year low of $8.61 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The firm has a market capitalization of $2.11 billion, a PE ratio of 5.93 and a beta of 2.35. The business has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $13.10.

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, topping analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The company had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. Equities research analysts anticipate that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.

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.