Sylebra Capital LLC Purchases 1,590,169 Shares of Sunrun Inc. $RUN

Key Points

• Sylebra Capital LLC has increased its stake in Sunrun Inc. by 23.8%, owning approximately $48.48 million worth of shares, which makes Sunrun its 10th largest position.
• Sunrun reported significant quarterly earnings with an EPS of $1.07, exceeding expectations and reflecting an 8.7% revenue increase compared to the same quarter last year.
• The stock price of Sunrun is currently at $18.18, having seen an increase of 10.7%, with brokerages issuing new price targets between $14.00 and $21.00 after positive evaluations.

Sylebra Capital LLC raised its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 23.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,273,331 shares of the energy company's stock after acquiring an additional 1,590,169 shares during the quarter. Sunrun makes up 2.4% of Sylebra Capital LLC's portfolio, making the stock its 10th biggest holding. Sylebra Capital LLC owned 3.62% of Sunrun worth $48,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new position in Sunrun in the first quarter worth approximately $60,000. US Bancorp DE lifted its stake in Sunrun by 107.6% in 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 in the last quarter. PharVision Advisers LLC purchased a new position in Sunrun during the 1st quarter valued at approximately $69,000. Alterna Wealth Management Inc. raised its stake in Sunrun by 16.6% during the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock valued at $71,000 after purchasing an additional 1,720 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Sunrun by 14.7% in the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock valued at $72,000 after acquiring an additional 1,571 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insider Buying and Selling at Sunrun

In other Sunrun news, CEO Mary Powell sold 1,809 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $15.76, for a total value of $28,509.84. Following the sale, the chief executive officer owned 891,431 shares of the company's stock, valued at $14,048,952.56. This trade represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Ferber sold 10,927 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total value of $122,819.48. Following the completion of the sale, the director owned 54,947 shares in the company, valued at approximately $617,604.28. This represents a 16.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,314 shares of company stock valued at $910,283. Insiders own 3.37% of the company's stock.

Sunrun Trading Up 1.1%

Shares of RUN stock traded up $0.17 during trading on Wednesday, hitting $16.20. 6,939,246 shares of the stock traded hands, compared to its average volume of 16,461,262. Sunrun Inc. has a 52-week low of $5.38 and a 52-week high of $21.77. The firm has a market capitalization of $3.74 billion, a P/E ratio of 6.94 and a beta of 2.21. The firm's fifty day moving average price is $12.49 and its 200-day moving average price is $9.24. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RUN shares. Zacks Research raised shares of Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday. Cowen reissued a "buy" rating on shares of Sunrun in a research report on Thursday, August 7th. BNP Paribas raised Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. TD Cowen raised their price objective on Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group upped their target price on Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.63.

Sunrun Company 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.