Bank of New York Mellon Corp raised its position in shares of Sunrun Inc. (NASDAQ:RUN) by 159.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,704 shares of the company’s stock after buying an additional 83,325 shares during the period. Bank of New York Mellon Corp owned 0.13% of Sunrun worth $805,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Hamilton Lane Advisors LLC purchased a new stake in shares of Sunrun during the second quarter valued at $641,000. Aberdeen Asset Management PLC UK purchased a new stake in shares of Sunrun during the second quarter valued at $667,000. Geode Capital Management LLC raised its stake in shares of Sunrun by 2.7% in the first quarter. Geode Capital Management LLC now owns 151,973 shares of the company’s stock valued at $984,000 after buying an additional 4,032 shares during the last quarter. State Street Corp raised its stake in shares of Sunrun by 6.6% in the first quarter. State Street Corp now owns 240,443 shares of the company’s stock valued at $1,558,000 after buying an additional 14,904 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new stake in shares of Sunrun during the second quarter valued at $3,303,000. 67.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sunrun Inc. (NASDAQ:RUN) traded up 0.31% during trading on Tuesday, reaching $6.44. The company’s stock had a trading volume of 196,918 shares. Sunrun Inc. has a 52-week low of $4.86 and a 52-week high of $14.95. The firm’s 50-day moving average is $6.09 and its 200 day moving average is $6.14. The company has a market cap of $663.78 million, a PE ratio of 195.15 and a beta of -1.21.
Sunrun (NASDAQ:RUN) last posted its earnings results on Thursday, August 11th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of ($0.40) by $0.71. Sunrun had a return on equity of 3.30% and a net margin of 6.94%. The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $111.15 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 68.6% on a year-over-year basis. On average, equities research analysts predict that Sunrun Inc. will post ($0.12) EPS for the current fiscal year.
RUN has been the subject of several analyst reports. Goldman Sachs Group Inc. upgraded Sunrun from a “neutral” rating to a “buy” rating and raised their target price for the stock from $7.00 to $12.00 in a research report on Thursday, October 6th. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Thursday, July 21st. Barclays PLC restated an “equal weight” rating and set a $7.00 target price on shares of Sunrun in a research report on Tuesday, June 21st. Morgan Stanley restated an “overweight” rating and set a $8.00 target price (down previously from $19.00) on shares of Sunrun in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. initiated coverage on Sunrun in a research report on Monday, June 20th. They set an “outperform” rating and a $8.00 target price for the company. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $11.77.
In related news, major shareholder Foundation Capital Vi Principa sold 42,306 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $5.82, for a total transaction of $246,220.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder William B. Elmore sold 27,384 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $6.06, for a total value of $165,947.04. The disclosure for this sale can be found here. 42.19% of the stock is owned by insiders.
Sunrun Company Profile
Sunrun Inc (Sunrun) is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. Sunrun has over 111,000 customers across 15 states, as well as the District of Columbia.