Tybourne Capital Management HK Ltd. Takes Position in Sunrun Inc. (NASDAQ:RUN)

Tybourne Capital Management HK Ltd. bought a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 120,183 shares of the energy company’s stock, valued at approximately $2,171,000. Sunrun comprises 0.6% of Tybourne Capital Management HK Ltd.’s investment portfolio, making the stock its 20th biggest position.

Several other institutional investors also recently bought and sold shares of RUN. Sylebra Capital LLC acquired a new stake in shares of Sunrun during the 2nd quarter worth approximately $35,387,000. Greenvale Capital LLP boosted its holdings in Sunrun by 20.5% during 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 in the last quarter. FMR LLC grew its position in Sunrun by 83.6% during the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after buying an additional 1,562,163 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Sunrun by 113.5% in the third 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. Finally, Senator Investment Group LP acquired a new position in shares of Sunrun in the second quarter worth about $11,860,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Stock Performance

NASDAQ:RUN opened at $11.55 on Thursday. The company’s 50-day moving average is $14.54 and its two-hundred day moving average is $15.41. Sunrun Inc. has a 1-year low of $9.23 and a 1-year high of $22.26. 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 firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -6.35 and a beta of 2.61.

Insider Activity

In other news, CFO Danny Abajian sold 9,694 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total value of $191,456.50. Following the sale, the chief financial officer now directly owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Paul S. Dickson sold 2,537 shares of the company’s stock in a transaction that occurred 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 owns 427,883 shares in the company, valued at approximately $7,800,307.09. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,795 shares of company stock valued at $3,071,225. 3.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RUN shares. Roth Mkm dropped their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group decreased their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. StockNews.com upgraded Sunrun to a “sell” rating in a research report on Friday, September 27th. Finally, Oppenheimer dropped their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.28.

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.