RWC Asset Management LLP Boosts Stake in Sunrun Inc. (NASDAQ:RUN)

RWC Asset Management LLP grew its holdings in Sunrun Inc. (NASDAQ:RUN) by 103.7% in the 4th quarter, HoldingsChannel reports. The firm owned 492,403 shares of the energy company’s stock after purchasing an additional 250,714 shares during the quarter. RWC Asset Management LLP’s holdings in Sunrun were worth $4,555,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Erste Asset Management GmbH purchased a new position in shares of Sunrun during the third quarter worth approximately $76,152,000. FMR LLC increased its holdings in shares of Sunrun by 83.6% in the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after purchasing an additional 1,562,163 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Sunrun by 113.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after acquiring an additional 1,337,302 shares during the period. Assenagon Asset Management S.A. boosted its position in Sunrun by 36.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company’s stock worth $17,367,000 after purchasing an additional 501,918 shares in the last quarter. Finally, Sora Investors LLC acquired a new stake in Sunrun in the 3rd quarter valued at about $8,127,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Performance

NASDAQ RUN opened at $8.42 on Monday. The firm’s fifty day moving average price is $9.44 and its two-hundred day moving average price is $13.40. The firm has a market capitalization of $1.89 billion, a P/E ratio of -4.63 and a beta of 2.59. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 1 year low of $7.87 and a 1 year high of $22.26.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial reissued a “hold” rating and set a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Oppenheimer cut their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. UBS Group raised Sunrun from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $17.00 in a research note on Friday, January 10th. Barclays lowered their price target on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Glj Research reiterated a “sell” rating and set a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.36.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the sale, the chief executive officer now owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock worth $1,572,147 over the last quarter. Company insiders own 3.77% of the company’s stock.

About Sunrun

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.