FMR LLC raised its stake in Sunrun Inc. (NASDAQ:RUN - Free Report) by 83.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,430,327 shares of the energy company's stock after acquiring an additional 1,562,163 shares during the quarter. FMR LLC owned approximately 1.53% of Sunrun worth $61,952,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RUN. Sylebra Capital LLC purchased a new position in Sunrun in the second quarter valued at about $35,387,000. Greenvale Capital LLP lifted its stake in shares of Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company's stock valued at $139,355,000 after buying an additional 2,000,000 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Sunrun by 113.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company's stock valued at $45,426,000 after buying an additional 1,337,302 shares in the last quarter. Senator Investment Group LP purchased a new stake in shares of Sunrun during the 2nd quarter valued at approximately $11,860,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Sunrun by 207.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company's stock valued at $24,843,000 after buying an additional 927,947 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Roth Mkm dropped their price target on shares of Sunrun from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group restated a "buy" rating and set a $20.00 price target on shares of Sunrun in a research note on Wednesday, September 25th. Morgan Stanley dropped their price target on shares of Sunrun from $35.00 to $27.00 and set an "overweight" rating on the stock in a research note on Friday, November 15th. Oppenheimer dropped their price target on shares of Sunrun from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Finally, BMO Capital Markets decreased their target price on shares of Sunrun from $20.00 to $11.00 and set a "market perform" rating on the stock in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $19.28.
Check Out Our Latest Stock Report on RUN
Sunrun Price Performance
Shares of NASDAQ:RUN traded up $0.22 during trading on Friday, reaching $10.58. The company had a trading volume of 6,286,524 shares, compared to its average volume of 10,884,896. Sunrun Inc. has a 12 month low of $9.23 and a 12 month high of $22.26. The stock has a market capitalization of $2.37 billion, a P/E ratio of -5.81 and a beta of 2.54. The company has a fifty day moving average of $13.30 and a two-hundred day moving average of $15.32. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.
Insider Activity
In other news, insider Jeanna Steele sold 2,624 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $42,902.40. Following the completion of the sale, the insider now owns 305,636 shares of the company's stock, valued at approximately $4,997,148.60. This represents a 0.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 4,017 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $65,677.95. Following the sale, the executive now directly owns 423,866 shares of the company's stock, valued at $6,930,209.10. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,337 shares of company stock valued at $2,634,276. Corporate insiders own 3.77% of the company's stock.
Sunrun 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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