Sunrun Inc (NASDAQ:RUN) Major Shareholder Purchases $3,041,802.72 in Stock

Sunrun Inc (NASDAQ:RUN) major shareholder Tiger Global Management Llc purchased 170,696 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The stock was acquired at an average price of $17.82 per share, with a total value of $3,041,802.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tiger Global Management Llc also recently made the following trade(s):

  • On Wednesday, June 26th, Tiger Global Management Llc purchased 102,626 shares of Sunrun stock. The stock was acquired at an average price of $18.48 per share, with a total value of $1,896,528.48.
  • On Friday, June 28th, Tiger Global Management Llc purchased 866,725 shares of Sunrun stock. The stock was acquired at an average price of $18.59 per share, with a total value of $16,112,417.75.
  • On Monday, June 24th, Tiger Global Management Llc purchased 259,491 shares of Sunrun stock. The stock was acquired at an average price of $18.69 per share, with a total value of $4,849,886.79.
  • On Friday, June 21st, Tiger Global Management Llc purchased 1,016,343 shares of Sunrun stock. The stock was acquired at an average price of $18.62 per share, with a total value of $18,924,306.66.
  • On Monday, May 20th, Tiger Global Management Llc purchased 103,292 shares of Sunrun stock. The stock was acquired at an average price of $15.64 per share, with a total value of $1,615,486.88.
  • On Friday, May 17th, Tiger Global Management Llc purchased 146,708 shares of Sunrun stock. The stock was acquired at an average price of $15.78 per share, with a total value of $2,315,052.24.

RUN traded up $0.27 during midday trading on Friday, reaching $19.91. The company had a trading volume of 764,670 shares, compared to its average volume of 2,159,752. The company has a current ratio of 1.37, a quick ratio of 1.15 and a debt-to-equity ratio of 1.64. The company’s 50-day moving average price is $17.66. The firm has a market capitalization of $2.29 billion, a P/E ratio of 86.57, a P/E/G ratio of 4.25 and a beta of 0.66. Sunrun Inc has a 1 year low of $8.81 and a 1 year high of $20.67.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.43). Sunrun had a negative return on equity of 1.19% and a negative net margin of 1.88%. The company had revenue of $194.50 million during the quarter, compared to analysts’ expectations of $152.90 million. Research analysts forecast that Sunrun Inc will post 0.94 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Sunrun during the 4th quarter valued at $16,863,000. BlackRock Inc. lifted its position in Sunrun by 4.8% during the 4th quarter. BlackRock Inc. now owns 6,725,927 shares of the energy company’s stock worth $73,246,000 after acquiring an additional 306,011 shares during the period. Bank of Montreal Can lifted its position in Sunrun by 1,008.2% during the 4th quarter. Bank of Montreal Can now owns 7,403 shares of the energy company’s stock worth $81,000 after acquiring an additional 6,735 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Sunrun by 43.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 32,010 shares of the energy company’s stock worth $349,000 after acquiring an additional 9,726 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Sunrun by 132.2% during the 1st quarter. JPMorgan Chase & Co. now owns 348,464 shares of the energy company’s stock worth $4,899,000 after acquiring an additional 198,395 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

A number of research firms recently commented on RUN. Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Goldman Sachs Group upgraded Solaredge Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $52.00 in a research report on Monday, June 17th. BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Roth Capital reiterated a “buy” rating on shares of Resverlogix in a research report on Thursday, May 23rd. Finally, Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Sunrun presently has an average rating of “Buy” and an average price target of $20.69.

Sunrun Company Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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