Sunrun Inc (NASDAQ:RUN) Major Shareholder Tiger Global Management Llc Buys 640,000 Shares of Stock

Sunrun Inc (NASDAQ:RUN) major shareholder Tiger Global Management Llc acquired 640,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $15.78 per share, for a total transaction of $10,099,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Monday, August 19th, Tiger Global Management Llc purchased 236,781 shares of Sunrun stock. The shares were purchased at an average price of $15.71 per share, for a total transaction of $3,719,829.51.
  • On Wednesday, August 14th, Tiger Global Management Llc purchased 728,798 shares of Sunrun stock. The shares were purchased at an average price of $15.52 per share, for a total transaction of $11,310,944.96.
  • On Wednesday, June 26th, Tiger Global Management Llc purchased 102,626 shares of Sunrun stock. The shares were purchased at an average price of $18.48 per share, for a total transaction of $1,896,528.48.
  • On Friday, June 28th, Tiger Global Management Llc purchased 866,725 shares of Sunrun stock. The shares were purchased at an average price of $18.59 per share, for a total transaction of $16,112,417.75.
  • On Monday, June 24th, Tiger Global Management Llc purchased 259,491 shares of Sunrun stock. The shares were purchased at an average price of $18.69 per share, for a total transaction of $4,849,886.79.
  • On Friday, June 21st, Tiger Global Management Llc purchased 1,016,343 shares of Sunrun stock. The shares were purchased at an average price of $18.62 per share, for a total transaction of $18,924,306.66.
  • On Wednesday, June 19th, Tiger Global Management Llc purchased 170,696 shares of Sunrun stock. The shares were purchased at an average price of $17.82 per share, for a total transaction of $3,041,802.72.

Shares of RUN traded down $0.44 during trading hours on Thursday, hitting $15.21. The company had a trading volume of 18,547 shares, compared to its average volume of 2,477,972. The firm has a market cap of $1.85 billion, a P/E ratio of 66.39, a P/E/G ratio of 6.31 and a beta of 0.66. The stock’s 50 day moving average price is $18.54 and its 200 day moving average price is $16.48. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of 1.68. Sunrun Inc has a 52-week low of $8.81 and a 52-week high of $21.42.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.18). The company had revenue of $204.60 million during the quarter, compared to analysts’ expectations of $198.78 million. Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS. On average, research analysts expect that Sunrun Inc will post 0.5 EPS for the current fiscal year.

RUN has been the topic of a number of research reports. Zacks Investment Research upgraded Sunrun from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 10th. Roth Capital set a $24.00 price target on Sunrun and gave the company a “buy” rating in a research report on Thursday, May 23rd. KeyCorp initiated coverage on Sunrun in a research report on Monday. They set an “overweight” rating and a $19.00 price target on the stock. Barclays initiated coverage on Sunrun in a research report on Thursday, May 16th. They set an “overweight” rating and a $21.00 price target on the stock. Finally, Bank of America restated a “buy” rating and set a $23.50 price target (up previously from $17.50) on shares of Sunrun in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $21.19.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Vanguard Group Inc. grew its stake in shares of Sunrun by 4.3% in the second quarter. Vanguard Group Inc. now owns 8,455,994 shares of the energy company’s stock worth $158,635,000 after purchasing an additional 349,990 shares during the last quarter. BlackRock Inc. grew its stake in shares of Sunrun by 10.6% in the second quarter. BlackRock Inc. now owns 7,464,662 shares of the energy company’s stock worth $140,037,000 after purchasing an additional 716,227 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Sunrun by 5.4% in the first quarter. Neuberger Berman Group LLC now owns 3,912,073 shares of the energy company’s stock worth $55,003,000 after purchasing an additional 200,636 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Sunrun by 29.6% in the second quarter. Bank of America Corp DE now owns 1,895,559 shares of the energy company’s stock worth $35,561,000 after purchasing an additional 432,841 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Sunrun in the fourth quarter worth about $16,863,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.

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 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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