FORA Capital LLC Makes New $165,000 Investment in Sunrun Inc. (NASDAQ:RUN)

FORA Capital LLC bought a new position in Sunrun Inc. (NASDAQ:RUN) in the first quarter, Holdings Channel.com reports. The institutional investor bought 2,734 shares of the energy company’s stock, valued at approximately $165,000.

A number of other institutional investors have also recently made changes to their positions in RUN. Viking Global Investors LP bought a new position in Sunrun in the first quarter worth about $265,880,000. Morgan Stanley increased its holdings in shares of Sunrun by 1,015.2% during the fourth quarter. Morgan Stanley now owns 4,813,841 shares of the energy company’s stock valued at $333,985,000 after acquiring an additional 4,382,193 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Sunrun by 11.1% during the first quarter. BlackRock Inc. now owns 26,255,948 shares of the energy company’s stock valued at $1,587,959,000 after acquiring an additional 2,623,954 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Sunrun by 305.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,158,122 shares of the energy company’s stock valued at $130,523,000 after acquiring an additional 1,625,337 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Sunrun during the fourth quarter valued at about $78,143,000. Institutional investors and hedge funds own 92.01% of the company’s stock.

In other Sunrun news, CEO Lynn Michelle Jurich sold 4,834 shares of the firm’s stock in a transaction on Tuesday, June 15th. The stock was sold at an average price of $43.62, for a total value of $210,859.08. Following the completion of the sale, the chief executive officer now directly owns 1,420,947 shares of the company’s stock, valued at approximately $61,981,708.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jeanna Steele sold 2,227 shares of the firm’s stock in a transaction on Tuesday, June 15th. The stock was sold at an average price of $43.61, for a total value of $97,119.47. Following the completion of the sale, the general counsel now directly owns 112,847 shares of the company’s stock, valued at $4,921,257.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,293 shares of company stock valued at $8,928,488. 4.40% of the stock is owned by corporate insiders.

RUN has been the topic of several recent analyst reports. Stephens initiated coverage on shares of Sunrun in a report on Thursday, June 24th. They set an “overweight” rating and a $82.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Sunrun from $86.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, June 16th. Credit Suisse Group upped their price objective on shares of Sunrun from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Sunrun from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Truist Securities cut their price target on shares of Sunrun from $95.00 to $81.00 in a report on Friday, May 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company. Sunrun presently has a consensus rating of “Buy” and a consensus price target of $79.78.

Shares of NASDAQ:RUN opened at $53.00 on Thursday. Sunrun Inc. has a 1 year low of $35.79 and a 1 year high of $100.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.59. The company’s 50 day simple moving average is $48.37.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 5th. The energy company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). Sunrun had a negative net margin of 16.17% and a negative return on equity of 0.21%. The business had revenue of $334.79 million for the quarter, compared to analysts’ expectations of $313.42 million. Sell-side analysts expect that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Sunrun 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; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems.

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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