Sunrun Inc. $RUN Shares Bought by Vontobel Holding Ltd.

by · The Cerbat Gem

Vontobel Holding Ltd. increased its stake in Sunrun Inc. (NASDAQ:RUN – Free Report) by 77.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,585 shares of the energy company’s stock after purchasing an additional 85,369 shares during the period. Vontobel Holding Ltd.’s holdings in Sunrun were worth $1,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RUN. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sunrun during the 4th quarter valued at $27,000. Allworth Financial LP purchased a new position in Sunrun in the second quarter worth $25,000. Summit Securities Group LLC purchased a new position in Sunrun in the first quarter worth $36,000. Nykredit A S purchased a new position in Sunrun in the second quarter worth $78,000. Finally, Leonteq Securities AG increased its stake in Sunrun by 26.8% in the first quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock valued at $85,000 after acquiring an additional 1,327 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sunrun

In other news, Director Lynn Jurich sold 50,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the transaction, the director directly owned 367,405 shares in the company, valued at $3,659,353.80. This trade represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 10,042 shares of Sunrun stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $77,925.92. Following the completion of the transaction, the insider directly owned 451,673 shares of the company’s stock, valued at $3,504,982.48. This trade represents a 2.17% 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 have sold 118,719 shares of company stock worth $1,031,277 over the last quarter. 3.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho set a $18.00 price target on Sunrun in a research note on Thursday, August 6th. Roth Capital reiterated a “buy” rating on shares of Sunrun in a research report on Thursday, July 9th. Wells Fargo & Company reduced their price objective on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. The Goldman Sachs Group decreased their price objective on Sunrun from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Finally, Morgan Stanley dropped their target price on Sunrun from $15.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Hold” and an average target price of $14.39.

Get Our Latest Stock Analysis on Sunrun

Sunrun Stock Down 5.6%

Shares of NASDAQ:RUN opened at $6.89 on Tuesday. The stock’s 50-day moving average is $8.51 and its 200 day moving average is $11.30. The company has a market cap of $1.66 billion, a PE ratio of 4.66 and a beta of 2.44. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. Sunrun Inc. has a 1 year low of $6.86 and a 1 year high of $21.95.

Sunrun (NASDAQ:RUN – Get Free Report) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.19. The firm 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 business’s revenue was up 52.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 EPS. Sell-side analysts anticipate that Sunrun Inc. will post 1.46 EPS for the current year.

Sunrun Company Profile

(Free Report)

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.

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