Foundation Capital LLC decreased its holdings in Sunrun Inc (NASDAQ:RUN) by 27.9% in the second quarter, Holdings Channel reports. The fund owned 5,741,468 shares of the energy company’s stock after selling 2,226,668 shares during the quarter. Sunrun makes up 40.8% of Foundation Capital LLC’s holdings, making the stock its biggest holding. Foundation Capital LLC owned about 0.05% of Sunrun worth $75,500,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in Sunrun by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 29,724 shares of the energy company’s stock worth $391,000 after purchasing an additional 4,076 shares during the period. Aperio Group LLC raised its position in Sunrun by 20.8% in the 1st quarter. Aperio Group LLC now owns 31,228 shares of the energy company’s stock worth $279,000 after purchasing an additional 5,378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sunrun by 36.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,366 shares of the energy company’s stock worth $209,000 after purchasing an additional 6,200 shares during the period. Swiss National Bank raised its position in Sunrun by 7.2% in the 1st quarter. Swiss National Bank now owns 120,450 shares of the energy company’s stock worth $1,076,000 after purchasing an additional 8,100 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Sunrun by 1.0% in the 1st quarter. Point72 Asset Management L.P. now owns 978,201 shares of the energy company’s stock worth $8,735,000 after purchasing an additional 9,912 shares during the period. 77.41% of the stock is owned by hedge funds and other institutional investors.
RUN has been the topic of a number of recent analyst reports. Credit Suisse Group increased their price objective on shares of Sunrun from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. TheStreet raised shares of Sunrun from a “d+” rating to a “c+” rating in a research report on Monday, August 6th. Zacks Investment Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Goldman Sachs Group lowered shares of Sunrun from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.82.
Shares of NASDAQ:RUN opened at $12.97 on Monday. The company has a market cap of $1.45 billion, a PE ratio of 15.08, a P/E/G ratio of 0.60 and a beta of -0.81. Sunrun Inc has a one year low of $4.21 and a one year high of $16.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.25 and a current ratio of 1.50.
Sunrun (NASDAQ:RUN) last issued its earnings results on Thursday, August 9th. The energy company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.31). The company had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $167.64 million. Sunrun had a return on equity of 7.49% and a net margin of 20.26%. The business’s revenue was up 30.6% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. sell-side analysts anticipate that Sunrun Inc will post 1.43 earnings per share for the current year.
In related news, major shareholder Tiger Global Management Llc bought 217,050 shares of Sunrun stock in a transaction dated Friday, May 25th. The shares were acquired at an average cost of $10.86 per share, with a total value of $2,357,163.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jeanna Steele sold 8,312 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $12.98, for a total transaction of $107,889.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 4,144,330 shares of company stock worth $50,125,793 and have sold 229,540 shares worth $3,332,186. Company insiders own 19.45% of the company’s stock.
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 leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
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