Drive Wealth Management LLC grew its stake in Sunrun Inc. (NASDAQ:RUN - Free Report) by 99.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,813 shares of the energy company's stock after acquiring an additional 23,809 shares during the period. Drive Wealth Management LLC's holdings in Sunrun were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Alyeska Investment Group L.P. raised its stake in shares of Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after buying an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP increased its stake in Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock valued at $124,875,000 after purchasing an additional 4,516,793 shares in the last quarter. Sylebra Capital LLC increased its stake in Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock valued at $61,819,000 after purchasing an additional 3,699,405 shares in the last quarter. Norges Bank bought a new stake in Sunrun in the fourth quarter valued at approximately $31,022,000. Finally, Maple Rock Capital Partners Inc. increased its stake in Sunrun by 92.8% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,597,600 shares of the energy company's stock valued at $33,278,000 after purchasing an additional 1,732,000 shares in the last quarter. 91.69% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. BNP Paribas raised shares of Sunrun from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. KeyCorp raised shares of Sunrun from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Sunrun from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada downgraded shares of Sunrun from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $12.00 to $5.00 in a research note on Wednesday, June 18th. Finally, Susquehanna upped their target price on shares of Sunrun from $10.00 to $12.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.30.
Get Our Latest Analysis on Sunrun
Sunrun Stock Up 1.9%
RUN traded up $0.20 during trading hours on Friday, hitting $10.78. 8,692,436 shares of the company's stock were exchanged, compared to its average volume of 19,649,012. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $22.26. The stock's 50-day moving average is $8.83 and its two-hundred day moving average is $8.21. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -0.89 and a beta of 2.60. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89.
Sunrun (NASDAQ:RUN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The business had revenue of $504.27 million during the quarter, compared to analysts' expectations of $487.29 million. During the same quarter in the prior year, the company posted ($0.40) earnings per share. The firm's revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.
Insider Transactions at Sunrun
In other Sunrun news, CFO Danny Abajian sold 8,909 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $96,217.20. Following the completion of the sale, the chief financial officer owned 446,797 shares in the company, valued at $4,825,407.60. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward Harris Fenster purchased 50,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $10.87 per share, with a total value of $543,500.00. Following the purchase, the director owned 1,408,182 shares of the company's stock, valued at approximately $15,306,938.34. The trade was a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 41,939 shares of company stock valued at $430,264. 3.37% of the stock is owned by company insiders.
Sunrun Company Profile
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Free Report)
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.
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