Skandinaviska Enskilda Banken AB publ Decreases Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Skandinaviska Enskilda Banken AB publ lowered its stake in Sunrun Inc. (NASDAQ:RUN) by 32.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,274 shares of the energy company’s stock after selling 37,686 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sunrun were worth $734,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. increased its position in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Sunrun during the third quarter valued at approximately $44,000. Union Bancaire Privee UBP SA purchased a new stake in Sunrun during the fourth quarter valued at approximately $56,000. Wealth Enhancement Advisory Services LLC bought a new position in Sunrun in the fourth quarter worth approximately $94,000. Finally, Alterna Wealth Management Inc. purchased a new position in shares of Sunrun during the 4th quarter worth $96,000. Institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Edward Harris Fenster purchased 150,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares in the company, valued at $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the transaction, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,466 shares of company stock valued at $1,607,397 in the last three months. Corporate insiders own 3.77% of the company’s stock.

Sunrun Trading Up 7.2 %

Shares of RUN opened at $6.97 on Tuesday. The stock has a market capitalization of $1.58 billion, a PE ratio of -3.83 and a beta of 2.84. The company’s fifty day moving average is $8.56 and its 200 day moving average is $11.99. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $22.26.

Analysts Set New Price Targets

A number of equities analysts recently commented on RUN shares. Truist Financial reaffirmed a “hold” rating and issued a $9.00 target price (down from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Piper Sandler cut 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. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Tuesday, January 7th. Finally, BMO Capital Markets decreased their price objective on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

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.