Jennison Associates LLC Makes New $813,000 Investment in Sunrun Inc. (NASDAQ:RUN)

Jennison Associates LLC acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,001 shares of the energy company’s stock, valued at approximately $813,000.

Several other hedge funds have also made changes to their positions in RUN. International Assets Investment Management LLC raised its holdings in Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in Sunrun in the second quarter worth $36,000. CWM LLC boosted its stake in Sunrun by 883.9% during the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after buying an additional 3,014 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Sunrun in the 2nd quarter valued at $45,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Price Performance

Shares of RUN stock opened at $10.51 on Friday. Sunrun Inc. has a 1 year low of $9.23 and a 1 year high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm’s 50 day moving average is $14.88 and its 200-day moving average is $15.39. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -5.77 and a beta of 2.61.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RUN shares. JPMorgan Chase & Co. raised their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Susquehanna decreased their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Morgan Stanley dropped their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Finally, Roth Mkm dropped their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.49.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 2,357 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at approximately $5,619,579.80. This represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mary Powell sold 2,148 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the completion of the transaction, the chief executive officer now directly owns 579,193 shares in the company, valued at $10,883,036.47. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 196,795 shares of company stock valued at $3,071,225. 3.77% of the stock is currently owned by corporate insiders.

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.