Insider Buying: Sunrun Inc (RUN) Major Shareholder Acquires 52,960 Shares of Stock

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Sunrun Inc (NASDAQ:RUN) major shareholder Tiger Global Management Llc bought 52,960 shares of Sunrun stock in a transaction on Monday, August 20th. The shares were acquired at an average cost of $13.33 per share, with a total value of $705,956.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Friday, August 10th, Tiger Global Management Llc bought 323,340 shares of Sunrun stock. The shares were acquired at an average cost of $12.43 per share, with a total value of $4,019,116.20.
  • On Friday, August 3rd, Tiger Global Management Llc bought 500,000 shares of Sunrun stock. The shares were acquired at an average cost of $13.83 per share, with a total value of $6,915,000.00.
  • On Monday, July 2nd, Tiger Global Management Llc bought 62,394 shares of Sunrun stock. The shares were acquired at an average cost of $13.58 per share, with a total value of $847,310.52.
  • On Wednesday, June 6th, Tiger Global Management Llc bought 280,817 shares of Sunrun stock. The shares were acquired at an average cost of $12.48 per share, with a total value of $3,504,596.16.
  • On Friday, June 1st, Tiger Global Management Llc bought 405,657 shares of Sunrun stock. The shares were acquired at an average cost of $12.11 per share, with a total value of $4,912,506.27.
  • On Monday, June 4th, Tiger Global Management Llc bought 1,578,934 shares of Sunrun stock. The shares were acquired at an average cost of $12.00 per share, with a total value of $18,947,208.00.
  • On Friday, May 25th, Tiger Global Management Llc bought 217,050 shares of Sunrun stock. The shares were acquired at an average cost of $10.86 per share, with a total value of $2,357,163.00.
  • On Wednesday, May 30th, Tiger Global Management Llc bought 776,138 shares of Sunrun stock. The shares were acquired at an average cost of $11.11 per share, with a total value of $8,622,893.18.

Shares of RUN traded up $0.91 during mid-day trading on Monday, reaching $13.88. The stock had a trading volume of 2,430,400 shares, compared to its average volume of 2,257,818. The firm has a market cap of $1.45 billion, a P/E ratio of 15.29, a PEG ratio of 0.60 and a beta of -0.81. Sunrun Inc has a 12 month low of $4.21 and a 12 month high of $16.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.50 and a quick ratio of 1.25.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Thursday, August 9th. The energy company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.31). The firm had revenue of $170.50 million during the quarter, compared to the consensus estimate of $167.64 million. Sunrun had a return on equity of 7.49% and a net margin of 20.26%. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. equities analysts anticipate that Sunrun Inc will post 1.43 earnings per share for the current year.

Several large investors have recently modified their holdings of RUN. GVO Asset Management Ltd bought a new position in Sunrun during the second quarter valued at $2,067,000. Wells Fargo & Company MN lifted its position in Sunrun by 74.7% during the first quarter. Wells Fargo & Company MN now owns 310,716 shares of the energy company’s stock valued at $2,774,000 after purchasing an additional 132,890 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sunrun by 36.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,366 shares of the energy company’s stock valued at $209,000 after purchasing an additional 6,200 shares during the last quarter. Swiss National Bank lifted its position in Sunrun by 7.2% during the first quarter. Swiss National Bank now owns 120,450 shares of the energy company’s stock valued at $1,076,000 after purchasing an additional 8,100 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Sunrun by 0.3% during the first quarter. BlackRock Inc. now owns 6,034,105 shares of the energy company’s stock valued at $53,884,000 after purchasing an additional 15,517 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

RUN has been the subject of a number of research reports. ValuEngine upgraded shares of Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Sunrun from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Credit Suisse Group upped their price target on shares of Sunrun from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 13th. JMP Securities reiterated a “buy” rating and issued a $21.00 price target on shares of Sunrun in a research report on Monday, July 16th. Finally, Goldman Sachs Group lowered shares of Sunrun from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.82.

About Sunrun

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 leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.

See Also: Short Selling

Insider Buying and Selling by Quarter for Sunrun (NASDAQ:RUN)

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