Jennison Associates LLC Buys 16,497 Shares of Sunrun Inc. (NASDAQ:RUN)

Jennison Associates LLC grew its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 36.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,498 shares of the energy company’s stock after buying an additional 16,497 shares during the period. Jennison Associates LLC’s holdings in Sunrun were worth $569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of 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 during the last quarter. Blue Trust Inc. raised its position in shares of Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Sunrun during the third quarter valued at approximately $44,000. Union Bancaire Privee UBP SA bought a new stake in Sunrun in the fourth quarter worth $56,000. Finally, Waldron Private Wealth LLC bought a new stake in Sunrun in the third quarter worth $135,000. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RUN. Roth Mkm reduced their price target on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target on the stock in a research report on Tuesday, January 7th. Guggenheim cut shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets reduced their price target on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.36.

Sunrun Stock Down 2.0 %

Shares of RUN opened at $8.47 on Friday. The firm has a market capitalization of $1.90 billion, a P/E ratio of -4.65 and a beta of 2.59. Sunrun Inc. has a 12-month low of $8.22 and a 12-month 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 has a fifty day moving average price of $9.88 and a 200-day moving average price of $14.05.

Sunrun (NASDAQ:RUN) last issued its earnings results on Thursday, November 7th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.21). Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The company had revenue of $537.17 million for the quarter, compared to analysts’ expectations of $560.60 million. During the same period in the prior year, the firm posted $0.40 earnings per share. Equities research analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the sale, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the sale, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock valued at $1,614,147 over the last three months. 3.77% of the stock is owned by company insiders.

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.