Wellington Management Group LLP Acquires Shares of 811,763 Sunrun Inc. (NASDAQ:RUN)

Wellington Management Group LLP bought a new position in Sunrun Inc. (NASDAQ:RUN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 811,763 shares of the energy company’s stock, valued at approximately $15,935,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Sunrun during the fourth quarter worth about $23,186,000. Deutsche Bank AG grew its position in Sunrun by 112.9% during the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock worth $27,969,000 after acquiring an additional 1,180,823 shares during the last quarter. Greenvale Capital LLP increased its holdings in Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after purchasing an additional 1,100,000 shares in the last quarter. Masters Capital Management LLC bought a new position in Sunrun in the 4th quarter valued at $19,630,000. Finally, Electron Capital Partners LLC boosted its stake in Sunrun by 53.4% in the third quarter. Electron Capital Partners LLC now owns 2,212,749 shares of the energy company’s stock worth $27,792,000 after purchasing an additional 770,234 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Sunrun Stock Performance

Shares of Sunrun stock opened at $12.70 on Thursday. The stock’s fifty day simple moving average is $12.38 and its 200 day simple moving average is $13.61. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $2.82 billion, a PE ratio of -1.90 and a beta of 2.65. Sunrun Inc. has a 12 month low of $8.43 and a 12 month high of $23.85.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The company had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. During the same quarter last year, the firm posted ($1.12) earnings per share. Sunrun’s revenue was down 22.3% compared to the same quarter last year. On average, research analysts predict that Sunrun Inc. will post -1.27 EPS for the current year.

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 22,549 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $12.07, for a total transaction of $272,166.43. Following the completion of the sale, the chief executive officer now owns 379,768 shares of the company’s stock, valued at $4,583,799.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sunrun news, insider Jeanna Steele sold 10,176 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $12.07, for a total transaction of $122,824.32. Following the completion of the transaction, the insider now owns 228,743 shares of the company’s stock, valued at approximately $2,760,928.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mary Powell sold 22,549 shares of Sunrun stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.07, for a total transaction of $272,166.43. Following the completion of the sale, the chief executive officer now owns 379,768 shares in the company, valued at $4,583,799.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,143 shares of company stock valued at $5,502,579. 3.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Jefferies Financial Group lowered their target price on Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Morgan Stanley boosted their target price on shares of Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Mizuho decreased their price target on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Royal Bank of Canada dropped their price objective on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Finally, Susquehanna decreased their price objective on Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a research report on Thursday, May 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.47.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains 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; and sells services to commercial developers through multi-family and new homes.