Foundation Capital LLC cut its holdings in shares of Sunrun Inc (NASDAQ:RUN) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,768,136 shares of the energy company’s stock after selling 1,100,000 shares during the quarter. Sunrun comprises approximately 14.0% of Foundation Capital LLC’s portfolio, making the stock its 4th biggest holding. Foundation Capital LLC owned approximately 9.20% of Sunrun worth $54,065,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Sunrun by 7.4% in the first quarter. Vanguard Group Inc. now owns 5,483,858 shares of the energy company’s stock valued at $29,613,000 after buying an additional 375,782 shares in the last quarter. State Street Corp lifted its holdings in Sunrun by 22.7% during the 2nd quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock worth $11,596,000 after buying an additional 300,923 shares during the last quarter. Northern Trust Corp lifted its holdings in Sunrun by 31.0% during the 2nd quarter. Northern Trust Corp now owns 872,704 shares of the energy company’s stock worth $6,214,000 after buying an additional 206,421 shares during the last quarter. Great Lakes Advisors LLC bought a new position in Sunrun during the 2nd quarter worth approximately $1,336,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Sunrun during the 2nd quarter worth approximately $1,039,000. Hedge funds and other institutional investors own 74.33% of the company’s stock.
A number of research analysts have commented on the company. BidaskClub downgraded Sunrun from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Zacks Investment Research downgraded Sunrun from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Barclays PLC raised their price target on Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. ValuEngine downgraded Sunrun from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $8.00 price target (up previously from $7.75) on shares of Sunrun in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.88.
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Shares of Sunrun Inc (RUN) traded down $0.04 during mid-day trading on Friday, hitting $5.65. The stock had a trading volume of 685,743 shares, compared to its average volume of 806,378. The company has a current ratio of 0.71, a quick ratio of 0.61 and a debt-to-equity ratio of 0.87. The firm has a market cap of $600.36, a PE ratio of 7.24, a PEG ratio of 0.42 and a beta of -0.68. Sunrun Inc has a one year low of $4.15 and a one year high of $7.78.
Sunrun (NASDAQ:RUN) last issued its earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Sunrun had a positive return on equity of 14.25% and a negative net margin of 47.33%. The business had revenue of $137.85 million during the quarter, compared to the consensus estimate of $143.35 million. During the same period last year, the company earned $0.31 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. sell-side analysts predict that Sunrun Inc will post 0.63 EPS for the current year.
In other Sunrun news, Chairman Edward Harris Fenster sold 115,094 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total value of $784,941.08. Following the completion of the sale, the chairman now directly owns 2,371,439 shares of the company’s stock, valued at approximately $16,173,213.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Vassallo sold 33,576 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $7.16, for a total value of $240,404.16. The disclosure for this sale can be found here. 24.13% of the stock is owned by company insiders.
Sunrun Company Profile
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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