Geode Capital Management LLC Buys 30,549 Shares of Sunrun Inc. (NASDAQ:RUN)

Geode Capital Management LLC increased its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,315,667 shares of the energy company’s stock after purchasing an additional 30,549 shares during the quarter. Geode Capital Management LLC owned approximately 2.37% of Sunrun worth $96,019,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RUN. Victory Capital Management Inc. grew its stake in Sunrun by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after purchasing an additional 691 shares during the last quarter. Creative Planning increased its holdings in Sunrun by 0.3% in the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock worth $5,242,000 after buying an additional 784 shares during the period. Van ECK Associates Corp raised its position in Sunrun by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after buying an additional 886 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Sunrun by 6.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after acquiring an additional 895 shares during the period. Finally, &PARTNERS boosted its holdings in shares of Sunrun by 1.6% in the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after acquiring an additional 1,019 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Down 0.2 %

Shares of RUN opened at $9.13 on Friday. The stock has a 50 day moving average price of $12.09 and a 200 day moving average price of $15.12. Sunrun Inc. has a one year low of $9.08 and a one year high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -5.02 and a beta of 2.54.

Analyst Ratings Changes

RUN has been the subject of a number of research reports. TD Cowen assumed coverage on shares of Sunrun in a research report on Thursday. They set a “buy” rating and a $21.00 target price for the company. The Goldman Sachs Group decreased their price objective on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Guggenheim downgraded Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, BNP Paribas cut shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.21.

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 6,415 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.34, for a total value of $104,821.10. Following the completion of the sale, the chief executive officer now directly owns 569,368 shares in the company, valued at $9,303,473.12. This represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeanna Steele sold 2,624 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total value of $42,902.40. Following the completion of the sale, the insider now directly owns 305,636 shares of the company’s stock, valued at $4,997,148.60. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 169,691 shares of company stock valued at $2,011,601 in the last 90 days. 3.77% of the stock is owned by insiders.

Sunrun 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.