Verition Fund Management LLC Purchases 43,765 Shares of Sunrun Inc. (NASDAQ:RUN)

Verition Fund Management LLC raised its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 59.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,639 shares of the energy company’s stock after purchasing an additional 43,765 shares during the quarter. Verition Fund Management LLC owned approximately 0.05% of Sunrun worth $2,125,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Sylebra Capital LLC bought a new position in Sunrun in the 2nd quarter worth approximately $35,387,000. Greenvale Capital LLP lifted its position in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares in the last quarter. FMR LLC boosted its holdings in shares of Sunrun by 83.6% in 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 period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Sunrun by 113.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after acquiring an additional 1,337,302 shares during the period. Finally, Senator Investment Group LP bought a new stake in shares of Sunrun during the second quarter valued at about $11,860,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RUN. Morgan Stanley lowered their target price on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Jefferies Financial Group dropped their price objective on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Truist Financial restated a “hold” rating and issued a $12.00 target price (down from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. StockNews.com upgraded Sunrun to a “sell” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets decreased their price objective 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 research 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. According to MarketBeat, Sunrun has a consensus rating of “Hold” and an average price target of $19.28.

Sunrun Stock Down 3.3 %

Shares of NASDAQ:RUN opened at $10.36 on Friday. Sunrun Inc. has a 1 year low of $9.23 and a 1 year high of $22.26. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The stock’s 50-day moving average is $13.46 and its 200 day moving average is $15.33. The company has a market cap of $2.32 billion, a PE ratio of -5.69 and a beta of 2.54.

Insider Activity

In other Sunrun news, CFO Danny Abajian sold 4,869 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $79,608.15. Following the completion of the transaction, the chief financial officer now owns 269,393 shares of the company’s stock, valued at approximately $4,404,575.55. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,337 shares of company stock valued at $2,634,276. Company insiders own 3.77% of the company’s stock.

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.