Sylebra Capital LLC Acquires 3,699,405 Shares of Sunrun Inc. (NASDAQ:RUN)

Sylebra Capital LLC lifted its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 124.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,683,162 shares of the energy company's stock after purchasing an additional 3,699,405 shares during the period. Sunrun comprises about 1.7% of Sylebra Capital LLC's investment portfolio, making the stock its 14th biggest holding. Sylebra Capital LLC owned about 2.98% of Sunrun worth $61,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RUN. Alyeska Investment Group L.P. lifted its holdings in Sunrun by 593.9% in 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 acquiring an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP lifted its holdings in shares of Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Norges Bank acquired a new position in Sunrun during the 4th quarter valued at approximately $31,022,000. Clal Insurance Enterprises Holdings Ltd bought a new position in Sunrun during the 4th quarter worth $18,500,000. Finally, Maple Rock Capital Partners Inc. grew its stake in Sunrun by 92.8% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,597,600 shares of the energy company's stock worth $33,278,000 after buying an additional 1,732,000 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sunrun news, CRO Paul S. Dickson sold 19,343 shares of Sunrun stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $130,371.82. Following the transaction, the executive now owns 399,729 shares of the company's stock, valued at $2,694,173.46. The trade was a 4.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the acquisition, the director now directly owns 1,358,182 shares in the company, valued at $9,235,637.60. This trade represents a 12.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 88,540 shares of company stock worth $595,944. Company insiders own 3.37% of the company's stock.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of analyst reports. BNP Paribas cut shares of Sunrun from a "strong-buy" rating to a "hold" rating in a report on Thursday. Truist Financial restated a "hold" rating and issued a $6.00 price target (down previously from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. Barclays reduced their price objective on Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. BMO Capital Markets cut Sunrun from a "hold" rating to a "strong sell" rating and lowered their target price for the company from $9.00 to $4.00 in a research report on Thursday. Finally, Roth Capital set a $20.00 target price on Sunrun in a research note on Friday, February 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $14.47.

Sunrun Price Performance

Shares of NASDAQ RUN traded up $0.17 during trading on Monday, hitting $6.88. The company had a trading volume of 50,268,411 shares, compared to its average volume of 11,602,815. Sunrun Inc. has a 52 week low of $5.45 and a 52 week high of $22.26. The business's 50-day moving average is $7.57 and its 200 day moving average is $8.73. The company has a market cap of $1.57 billion, a P/E ratio of -3.78 and a beta of 2.66. 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 (NASDAQ:RUN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. During the same period in the previous year, the firm earned ($0.40) earnings per share. Sunrun's revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

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.