Sycomore Asset Management Invests $548,000 in Sunrun Inc. (NASDAQ:RUN)

Sycomore Asset Management bought a new position in Sunrun Inc. (NASDAQ:RUN) during the third quarter, according to its most recent filing with the SEC. The firm bought 29,500 shares of the energy company’s stock, valued at approximately $548,000.

Several other large investors have also bought and sold shares of the stock. Sylebra Capital LLC bought a new stake in Sunrun in the second quarter valued at approximately $35,387,000. Vanguard Group Inc. lifted its holdings in Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after acquiring an additional 2,743,148 shares during the period. Greenvale Capital LLP raised its stake in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after buying an additional 2,000,000 shares during the period. Senator Investment Group LP bought a new position in shares of Sunrun in the second quarter worth about $11,860,000. Finally, Assenagon Asset Management S.A. grew its holdings in 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 institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RUN shares. Oppenheimer cut their price objective on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. UBS Group lifted their target price on Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler lifted their target price on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Roth Mkm decreased their price target on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company reduced their price target on Sunrun from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and an average price target of $20.54.

Sunrun Stock Up 0.5 %

Shares of RUN traded up $0.05 during mid-day trading on Thursday, reaching $10.32. The company’s stock had a trading volume of 2,718,405 shares, compared to its average volume of 11,988,925. Sunrun Inc. has a 12-month low of $9.23 and a 12-month high of $22.26. The stock has a market cap of $2.32 billion, a PE ratio of -5.64 and a beta of 2.61. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company’s 50 day moving average is $16.03 and its 200 day moving average is $15.43.

Insider Activity

In related news, CRO Paul S. Dickson sold 2,537 shares of Sunrun stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $46,249.51. Following the completion of the transaction, the executive now directly owns 427,883 shares of the company’s stock, valued at approximately $7,800,307.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CRO Paul S. Dickson sold 2,537 shares of Sunrun stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $46,249.51. Following the transaction, the executive now owns 427,883 shares in the company, valued at approximately $7,800,307.09. This trade represents a 0.00 % 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 the SEC website. Also, Director Gerald Alan Risk sold 9,045 shares of Sunrun stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.04, for a total value of $181,261.80. Following the completion of the transaction, the director now owns 334,761 shares in the company, valued at $6,708,610.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,840 shares of company stock valued at $2,755,487 in the last three months. 3.77% of the stock is currently owned by company insiders.

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.