MetLife Investment Management LLC Purchases 71,094 Shares of Sunrun Inc. (NASDAQ:RUN)

MetLife Investment Management LLC grew its position in Sunrun Inc. (NASDAQ:RUN) by 129.1% in the third quarter, HoldingsChannel.com reports. The firm owned 126,174 shares of the energy company’s stock after acquiring an additional 71,094 shares during the period. MetLife Investment Management LLC’s holdings in Sunrun were worth $2,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Greenvale Capital LLP boosted its position in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sunrun by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after purchasing an additional 729,633 shares during the period. FMR LLC boosted its position in shares of Sunrun by 83.6% during the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after acquiring an additional 1,562,163 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Sunrun by 0.6% during the third quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company’s stock worth $56,402,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Sylebra Capital LLC bought a new position in shares of Sunrun during the second quarter worth $35,387,000. 91.69% of the stock is currently owned by institutional investors.

Sunrun Stock Down 4.9 %

Shares of RUN stock opened at $10.71 on Thursday. Sunrun Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $22.26. The firm has a market capitalization of $2.40 billion, a PE ratio of -6.19 and a beta of 2.54. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The stock’s 50-day simple moving average is $13.77 and its 200-day simple moving average is $15.39.

Insider Buying and Selling

In related news, CEO Mary Powell sold 3,410 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $62,164.30. Following the completion of the transaction, the chief executive officer now owns 575,783 shares of the company’s stock, valued at $10,496,524.09. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeanna Steele sold 2,357 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $42,968.11. Following the transaction, the insider now directly owns 308,260 shares of the company’s stock, valued at approximately $5,619,579.80. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,719 shares of company stock worth $2,859,999. 3.77% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on RUN. Evercore ISI dropped their target price on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Piper Sandler lowered shares of Sunrun from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, September 27th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, Barclays lowered their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.28.

Sunrun Profile

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.