Greenvale Capital LLP Purchases 2,000,000 Shares of Sunrun Inc. (NASDAQ:RUN)

Greenvale Capital LLP grew its position in Sunrun Inc. (NASDAQ:RUN) by 20.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,750,000 shares of the energy company’s stock after purchasing an additional 2,000,000 shares during the quarter. Sunrun comprises approximately 8.8% of Greenvale Capital LLP’s investment portfolio, making the stock its 4th biggest position. Greenvale Capital LLP owned about 5.30% of Sunrun worth $139,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Sunrun by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock valued at $384,394,000 after purchasing an additional 176,861 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sunrun by 142.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock valued at $3,199,000 after buying an additional 142,563 shares during the period. Symmetry Investments LP bought a new stake in shares of Sunrun in the second quarter valued at approximately $1,205,000. State of Alaska Department of Revenue boosted its stake in shares of Sunrun by 466.2% in the first quarter. State of Alaska Department of Revenue now owns 132,878 shares of the energy company’s stock valued at $1,751,000 after buying an additional 109,411 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Sunrun in the first quarter valued at approximately $171,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity

In other news, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.61, for a total value of $31,688.93. Following the completion of the sale, the insider now directly owns 312,774 shares in the company, valued at approximately $3,944,080.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.61, for a total value of $31,688.93. Following the transaction, the insider now owns 312,774 shares of the company’s stock, valued at approximately $3,944,080.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mary Powell sold 5,569 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $70,280.78. Following the completion of the transaction, the chief executive officer now directly owns 581,341 shares in the company, valued at approximately $7,336,523.42. The disclosure for this sale can be found here. Insiders sold a total of 178,675 shares of company stock worth $3,253,289 in the last three months. Company insiders own 3.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RUN. Piper Sandler boosted their price target on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Evercore ISI cut their price target on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. BMO Capital Markets upped their target price on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Sunrun to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and an average target price of $22.33.

Sunrun Stock Performance

Shares of Sunrun stock opened at $18.06 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The business has a 50-day moving average price of $18.75 and a two-hundred day moving average price of $14.75. Sunrun Inc. has a 1-year low of $8.43 and a 1-year high of $22.26. The company has a market cap of $4.00 billion, a P/E ratio of -2.71 and a beta of 2.59.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same period last year, the business posted $0.25 EPS. The business’s revenue was down 11.2% compared to the same quarter last year. As a group, analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current year.

Sunrun 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.