Jennison Associates LLC Purchases New Stake in Sunrun Inc. (NASDAQ:RUN)

Jennison Associates LLC bought a new stake in Sunrun Inc. (NASDAQ:RUN) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 45,001 shares of the energy company’s stock, valued at approximately $813,000.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares in the last quarter. Blue Trust Inc. lifted its stake in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in Sunrun in the second quarter worth $36,000. CWM LLC increased its stake in Sunrun by 883.9% during the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Sunrun during the second quarter worth $45,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 2.8 %

Shares of NASDAQ:RUN opened at $10.51 on Friday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -5.77 and a beta of 2.61. 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 company has a 50 day moving average price of $14.88 and a 200 day moving average price of $15.39. Sunrun Inc. has a 1-year low of $9.23 and a 1-year high of $22.26.

Insider Transactions at Sunrun

In other news, CFO Danny Abajian sold 9,694 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the completion of the sale, the chief financial officer now owns 278,260 shares of the company’s stock, valued at $5,495,635. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Paul S. Dickson sold 2,537 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $46,249.51. Following the transaction, the executive now directly owns 427,883 shares in the company, valued at $7,800,307.09. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 196,795 shares of company stock valued at $3,071,225 over the last three months. Company insiders own 3.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RUN. UBS Group lifted their price target on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Roth Mkm lowered their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Guggenheim downgraded Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI cut their price target on Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.49.

Sunrun Company 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.