Sunrun Inc (NASDAQ:RUN) major shareholder Tiger Global Management Llc sold 1,355,591 shares of the firm’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $62.92, for a total value of $85,293,785.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Friday, October 9th, Tiger Global Management Llc sold 521,381 shares of Sunrun stock. The stock was sold at an average price of $72.21, for a total transaction of $37,648,922.01.
  • On Monday, October 5th, Tiger Global Management Llc sold 1,227,812 shares of Sunrun stock. The shares were sold at an average price of $78.06, for a total transaction of $95,843,004.72.
  • On Thursday, October 1st, Tiger Global Management Llc sold 1,184,363 shares of Sunrun stock. The shares were sold at an average price of $80.49, for a total transaction of $95,329,377.87.

RUN opened at $62.39 on Friday. Sunrun Inc has a 1 year low of $7.84 and a 1 year high of $82.42. The company’s 50 day simple moving average is $62.93 and its 200 day simple moving average is $33.72. The stock has a market capitalization of $7.68 billion, a PE ratio of -6,232.77 and a beta of 1.97. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.83 and a current ratio of 1.23.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Monday, August 10th. The energy company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.22). The business had revenue of $181.30 million for the quarter, compared to the consensus estimate of $187.01 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Sunrun Inc will post -0.13 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on RUN. Zacks Investment Research raised shares of Sunrun from a “sell” rating to a “hold” rating in a research note on Wednesday, August 12th. KeyCorp raised their price target on Sunrun from $32.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Simmons assumed coverage on Sunrun in a research report on Wednesday, October 7th. They issued a “neutral” rating and a $70.00 price objective on the stock. Piper Sandler started coverage on Sunrun in a research report on Wednesday, October 7th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, TheStreet raised shares of Sunrun from a “d+” rating to a “c-” rating in a research note on Friday, August 14th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Sunrun currently has an average rating of “Buy” and a consensus price target of $55.77.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its position in Sunrun by 91.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,705 shares of the energy company’s stock valued at $34,000 after acquiring an additional 815 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Sunrun by 365.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,902 shares of the energy company’s stock valued at $37,000 after purchasing an additional 1,493 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Sunrun by 17.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,223 shares of the energy company’s stock valued at $44,000 after purchasing an additional 328 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Sunrun by 9.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 3,862 shares of the energy company’s stock worth $76,000 after purchasing an additional 325 shares during the period. Finally, Nachman Norwood & Parrott Inc acquired a new stake in Sunrun during the 3rd quarter worth approximately $78,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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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