115,500 Shares in Sunrun Inc (NASDAQ:RUN) Bought by State of New Jersey Common Pension Fund D

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State of New Jersey Common Pension Fund D purchased a new position in shares of Sunrun Inc (NASDAQ:RUN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 115,500 shares of the energy company’s stock, valued at approximately $1,929,000. State of New Jersey Common Pension Fund D owned 0.10% of Sunrun as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RUN. Amundi Pioneer Asset Management Inc. acquired a new position in Sunrun during the 1st quarter worth $732,000. DAVENPORT & Co LLC boosted its position in Sunrun by 6.8% during the 2nd quarter. DAVENPORT & Co LLC now owns 111,538 shares of the energy company’s stock worth $2,092,000 after acquiring an additional 7,097 shares during the period. Handelsbanken Fonder AB boosted its position in Sunrun by 10.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 867,277 shares of the energy company’s stock worth $16,270,000 after acquiring an additional 85,029 shares during the period. Capital Impact Advisors LLC acquired a new position in Sunrun during the 2nd quarter worth $1,903,000. Finally, Commonwealth Equity Services LLC acquired a new position in Sunrun during the 2nd quarter worth $224,000. Institutional investors own 83.32% of the company’s stock.

In other Sunrun news, major shareholder Tiger Global Management Llc bought 728,798 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $15.52 per share, for a total transaction of $11,310,944.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michelle Philpot sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $17.16, for a total value of $102,960.00. Following the sale, the chief accounting officer now owns 56,474 shares of the company’s stock, valued at approximately $969,093.84. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 5,861,191 shares of company stock valued at $92,527,174 and have sold 72,322 shares valued at $1,205,124. 9.34% of the stock is owned by corporate insiders.

RUN has been the subject of a number of analyst reports. Credit Suisse Group set a $26.00 price target on Sunrun and gave the stock a “buy” rating in a research report on Friday, October 11th. KeyCorp began coverage on Sunrun in a report on Monday, August 19th. They issued an “overweight” rating and a $19.00 price objective for the company. ValuEngine upgraded Sunrun from a “hold” rating to a “buy” rating in a report on Friday, November 1st. BidaskClub lowered Sunrun from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research lowered Sunrun from a “hold” rating to a “strong sell” rating in a report on Saturday, October 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $22.19.

Shares of NASDAQ RUN opened at $14.74 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of 1.68. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 64.09, a P/E/G ratio of 6.16 and a beta of 0.74. The business has a fifty day simple moving average of $16.31 and a 200-day simple moving average of $16.86. Sunrun Inc has a 12 month low of $8.81 and a 12 month high of $21.42.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, August 7th. The energy company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.18). Sunrun had a negative net margin of 2.84% and a negative return on equity of 1.89%. The business had revenue of $204.60 million for the quarter, compared to the consensus estimate of $198.78 million. During the same quarter in the previous year, the company earned $0.06 EPS. Sunrun’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts expect that Sunrun Inc will post 0.49 EPS for the current fiscal year.

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 energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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