Jennison Associates LLC Makes New $691,000 Investment in Sunrun Inc. $RUN

Jennison Associates LLC bought a new stake in Sunrun Inc. (NASDAQ:RUN) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 50,950 shares of the energy company’s stock, valued at approximately $691,000.

Other large investors have also modified their holdings of the company. Handelsbanken Fonder AB raised its holdings in Sunrun by 6.7% in the 4th quarter. Handelsbanken Fonder AB now owns 2,314,802 shares of the energy company’s stock valued at $42,592,000 after buying an additional 145,285 shares during the period. Intech Investment Management LLC boosted its stake in Sunrun by 33.1% during the fourth quarter. Intech Investment Management LLC now owns 324,632 shares of the energy company’s stock worth $5,973,000 after buying an additional 80,695 shares during the period. LBP AM SA acquired a new stake in shares of Sunrun during the fourth quarter valued at about $3,307,000. Lingotto Investment Management LLP acquired a new stake in shares of Sunrun during the fourth quarter valued at about $4,480,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Sunrun during the fourth quarter valued at about $2,760,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on RUN shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $17.00 price objective on shares of Sunrun in a report on Friday, May 8th. TD Cowen cut their target price on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. UBS Group dropped their target price on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Weiss Ratings raised shares of Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.81.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. Following the sale, the director owned 459,091 shares of the company’s stock, valued at $7,308,728.72. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 9,897 shares of Sunrun stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $130,541.43. Following the completion of the transaction, the insider owned 461,715 shares of the company’s stock, valued at $6,090,020.85. This represents a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 223,045 shares of company stock valued at $3,081,335. 3.55% of the stock is currently owned by company insiders.

Sunrun Trading Down 4.3%

NASDAQ:RUN opened at $10.95 on Thursday. The firm has a market cap of $2.61 billion, a PE ratio of 5.14 and a beta of 2.32. The stock has a fifty day moving average price of $13.37 and a 200 day moving average price of $14.80. Sunrun Inc. has a 12-month low of $9.01 and a 12-month high of $22.44. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.67. The company had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.Sunrun’s revenue was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. Sell-side analysts anticipate that Sunrun Inc. will post 1.01 earnings per share for the current fiscal year.

Sunrun Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.