Point72 DIFC Ltd Takes $5.48 Million Position in Sunrun Inc. (NASDAQ:RUN)

Point72 DIFC Ltd bought a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 461,908 shares of the energy company’s stock, valued at approximately $5,478,000. Point72 DIFC Ltd owned approximately 0.21% of Sunrun at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RUN. Vanguard Group Inc. grew its stake in shares of Sunrun by 14.0% during 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 in the last quarter. Norges Bank acquired a new stake in shares of Sunrun during the fourth quarter valued at about $23,186,000. Greenvale Capital LLP grew its stake in shares of Sunrun by 15.3% during the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after acquiring an additional 1,100,000 shares in the last quarter. Masters Capital Management LLC bought a new position in shares of Sunrun during the fourth quarter worth about $19,630,000. Finally, Robeco Schweiz AG lifted its position in shares of Sunrun by 23.5% during the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after purchasing an additional 876,000 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Stock Performance

RUN opened at $18.91 on Tuesday. The business’s 50 day moving average is $18.61 and its 200-day moving average is $14.48. The stock has a market cap of $4.19 billion, a PE ratio of -2.84 and a beta of 2.59. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. Sunrun Inc. has a twelve month low of $8.43 and a twelve month high of $22.26.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. The company had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The business’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, analysts predict that Sunrun Inc. will post -0.16 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on RUN. Truist Financial reaffirmed a “hold” rating and set a $18.00 price target (up previously from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their price target on shares of Sunrun from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Susquehanna increased their price target on shares of Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Activity at Sunrun

In related news, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the transaction, the insider now owns 312,774 shares in the company, valued at $3,944,080.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the transaction, the director now owns 1,192,446 shares in the company, valued at $24,087,409.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the transaction, the insider now owns 312,774 shares in the company, valued at approximately $3,944,080.14. The disclosure for this sale can be found here. Insiders have sold 178,675 shares of company stock worth $3,253,289 over the last quarter. 3.76% 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.