Handelsbanken Fonder AB Sells 2,070,654 Shares of Sunrun Inc. $RUN

Handelsbanken Fonder AB lessened its stake in Sunrun Inc. (NASDAQ:RUN) by 61.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,318,273 shares of the energy company’s stock after selling 2,070,654 shares during the period. Handelsbanken Fonder AB owned 0.55% of Sunrun worth $17,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RUN. Contour Asset Management LLC bought a new stake in shares of Sunrun in the 4th quarter valued at about $98,010,000. Norges Bank bought a new position in shares of Sunrun during the 4th quarter worth approximately $62,169,000. Voloridge Investment Management LLC bought a new position in shares of Sunrun during the 3rd quarter worth approximately $40,193,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sunrun during the third quarter valued at approximately $21,427,000. Finally, Invesco Ltd. lifted its position in Sunrun by 26.6% during the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after acquiring an additional 1,231,628 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on RUN shares. Royal Bank Of Canada reduced their price target on Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. dropped their target price on Sunrun from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research report on Thursday, July 9th. Citigroup decreased their price target on Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.04.

Insider Transactions at Sunrun

In related news, insider Jeanna Steele sold 9,897 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the sale, the insider owned 461,715 shares in the company, valued at $6,090,020.85. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. Following the completion of the transaction, the director owned 459,091 shares in the company, valued at approximately $7,308,728.72. This trade represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 223,045 shares of company stock valued at $2,934,835. 3.55% of the stock is owned by company insiders.

Sunrun Trading Down 1.9%

NASDAQ:RUN opened at $9.84 on Thursday. The company has a market capitalization of $2.37 billion, a P/E ratio of 6.65 and a beta of 2.35. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. Sunrun Inc. has a 12 month low of $8.61 and a 12 month high of $22.44. The firm has a fifty day simple moving average of $11.95 and a 200-day simple moving average of $13.93.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.59% and a net margin of 11.59%.The firm’s quarterly revenue was up 52.8% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. On average, equities research analysts anticipate that Sunrun Inc. will post 1.13 earnings per share for the current 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.