Grantham Mayo Van Otterloo & Co. LLC Decreases Holdings in Sunrun Inc. (NASDAQ:RUN)

Grantham Mayo Van Otterloo & Co. LLC reduced its stake in Sunrun Inc. (NASDAQ:RUN) by 4.5% in the 4th quarter, Holdings Channel reports. The firm owned 10,622,430 shares of the energy company’s stock after selling 496,231 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Sunrun were worth $98,257,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hel Ved Capital Management Ltd purchased a new stake in shares of Sunrun during the fourth quarter valued at approximately $1,787,000. ExodusPoint Capital Management LP increased its stake in Sunrun by 54.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 146,815 shares of the energy company’s stock worth $1,358,000 after buying an additional 51,972 shares during the period. National Bank of Canada FI lifted its holdings in Sunrun by 75.0% in the 4th quarter. National Bank of Canada FI now owns 25,698 shares of the energy company’s stock worth $238,000 after buying an additional 11,012 shares in the last quarter. Franklin Resources Inc. boosted its position in Sunrun by 180.1% in the 4th quarter. Franklin Resources Inc. now owns 138,891 shares of the energy company’s stock valued at $1,285,000 after buying an additional 89,299 shares during the last quarter. Finally, SCP Investment LP acquired a new stake in shares of Sunrun during the fourth quarter valued at about $137,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RUN. JPMorgan Chase & Co. cut their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada cut their target price on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. BMO Capital Markets decreased their price target on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research report on Monday, March 3rd. Barclays cut their price target on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Finally, Truist Financial reissued a “hold” rating and set a $9.00 price objective (down from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $6.99 on Friday. Sunrun Inc. has a 1-year low of $5.55 and a 1-year high of $22.26. The firm has a market capitalization of $1.58 billion, a PE ratio of -3.84 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The business’s fifty day moving average price is $7.61 and its two-hundred day moving average price is $10.87.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $9.59, for a total transaction of $479,500.00. Following the transaction, the director now directly owns 991,753 shares of the company’s stock, valued at approximately $9,510,911.27. This trade represents a 4.80 % 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. Also, Director Edward Harris Fenster acquired 150,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the purchase, the director now owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 121,466 shares of company stock valued at $1,136,397 in the last quarter. Company insiders own 3.77% of the company’s stock.

Sunrun Company Profile

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.