Sunrun Inc. $RUN Shares Purchased by PDT Partners LLC

Key Points

• PDT Partners LLC significantly increased its holdings in Sunrun Inc. by 1,019.5% in the first quarter, acquiring a total of 779,310 shares valued at approximately $4.57 million.
• Multiple institutional investors have recently increased their stakes in Sunrun, leading to a total institutional ownership of 91.69% of the company's stock.
• Analysts have upgraded their ratings for Sunrun, resulting in an average rating of "Moderate Buy" with a consensus target price of $14.63.

PDT Partners LLC raised its holdings in Sunrun Inc. (NASDAQ:RUN - Free Report) by 1,019.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 779,310 shares of the energy company's stock after buying an additional 709,699 shares during the period. PDT Partners LLC owned approximately 0.34% of Sunrun worth $4,567,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Apollon Wealth Management LLC purchased a new stake in shares of Sunrun during the 1st quarter worth $60,000. US Bancorp DE lifted its position in shares of Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after purchasing an additional 5,342 shares during the last quarter. Alterna Wealth Management Inc. lifted its position in shares of Sunrun by 16.6% during the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after purchasing an additional 1,720 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Sunrun by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock worth $72,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Callan Family Office LLC purchased a new stake in shares of Sunrun during the 1st quarter worth $72,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Alan Ferber sold 10,927 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total transaction of $122,819.48. Following the sale, the director owned 54,947 shares in the company, valued at approximately $617,604.28. This trade represents a 16.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Paul S. Dickson sold 8,010 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.81, for a total transaction of $86,588.10. Following the sale, the executive owned 679,044 shares in the company, valued at approximately $7,340,465.64. This trade represents a 1.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,314 shares of company stock valued at $910,283. Corporate insiders own 3.37% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Glj Research raised shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Friday, August 15th. BNP Paribas Exane raised shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Monday, July 7th. Jefferies Financial Group raised shares of Sunrun from an "underperform" rating to a "hold" rating and boosted their price target for the company from $5.00 to $11.00 in a research report on Wednesday, July 9th. Oppenheimer boosted their price target on shares of Sunrun from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada upgraded shares of Sunrun from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $12.00 to $16.00 in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sunrun presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.63.

Sunrun Price Performance

Shares of RUN stock traded up $1.75 during trading hours on Friday, hitting $18.18. The company's stock had a trading volume of 17,569,368 shares, compared to its average volume of 16,929,721. The business has a fifty day moving average of $11.96 and a 200-day moving average of $9.06. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -1.57 and a beta of 2.21. Sunrun Inc. has a twelve month low of $5.38 and a twelve month high of $21.77. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, beating the consensus estimate of ($0.18) by $1.25. The business had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. As a group, equities research analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

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.