Newbridge Financial Services Group Inc. Purchases 2,000 Shares of Sunrun Inc. (NASDAQ:RUN)

Newbridge Financial Services Group Inc. boosted its position in shares of Sunrun Inc. (NASDAQ:RUN) by 133.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,500 shares of the energy company’s stock after purchasing an additional 2,000 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Sunrun were worth $32,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after purchasing an additional 54,329 shares during the last quarter. Geode Capital Management LLC grew its holdings in Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after purchasing an additional 30,549 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Sunrun in the 3rd quarter valued at about $76,152,000. FMR LLC boosted its position in 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 buying an additional 1,562,163 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Sunrun by 113.5% in 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 buying an additional 1,337,302 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on RUN. Truist Financial reissued a “hold” rating and issued a $12.00 price objective (down from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Piper Sandler cut shares of Sunrun from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Susquehanna lowered their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Finally, BNP Paribas raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

Insider Buying and Selling at Sunrun

In other news, CFO Danny Abajian sold 3,734 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the sale, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total transaction of $497,000.00. Following the completion of the sale, the director now owns 1,092,446 shares in the company, valued at $10,858,913.24. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,830 shares of company stock worth $1,614,147. 3.77% of the stock is owned by corporate insiders.

Sunrun Trading Down 3.1 %

NASDAQ:RUN opened at $8.10 on Wednesday. Sunrun Inc. has a 52 week low of $7.93 and a 52 week high of $22.26. The firm has a 50 day moving average of $9.75 and a 200 day moving average of $13.87. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -4.45 and a beta of 2.59.

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.