ExodusPoint Capital Management LP Purchases 51,972 Shares of Sunrun Inc. (NASDAQ:RUN)

ExodusPoint Capital Management LP lifted its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 54.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,815 shares of the energy company’s stock after purchasing an additional 51,972 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Sunrun were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after buying an additional 54,329 shares during the period. Zacks Investment Management acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $538,000. XTX Topco Ltd acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $618,000. MML Investors Services LLC increased its stake in shares of Sunrun by 9.3% in the 3rd quarter. MML Investors Services LLC now owns 43,313 shares of the energy company’s stock valued at $782,000 after acquiring an additional 3,689 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Sunrun by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after acquiring an additional 30,549 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $6.43 on Thursday. The company has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $10.41. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a twelve month low of $5.45 and a twelve month high of $22.26. The firm has a market capitalization of $1.45 billion, a PE ratio of -3.53 and a beta of 2.74.

Insider Activity

In related news, insider Jeanna Steele sold 9,942 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now directly owns 291,238 shares of the company’s stock, valued at $1,962,944.12. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Danny Abajian sold 16,927 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the sale, the chief financial officer now directly owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,540 shares of company stock worth $1,530,444. 3.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Roth Capital set a $20.00 price target on shares of Sunrun in a research note on Friday, February 28th. UBS Group decreased their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Finally, Barclays lowered their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

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.