Following The Money: Institution’s Growing Stake In Sunrun Inc. (NASDAQ: RUN)


    BlackRock Fund Advisors has recently announced that it has increased stake in Sunrun Inc. (NASDAQ:RUN) by 4.47%. After grabbing 13.78 million shares, the institutional investor is now in possession of 0.59 million shares of the Technology Company. The new investment brought the stake of investor firm to 11.26% having worth around $505.47 million. Moreover, The Vanguard Group, Inc. increased its share by 0.21 million to have a control over 8.68 million shares. And Fidelity Management & Research Co.. raised its holdings to 0.53 million shares by acquiring 6.03 million shares or 4.93% of the stake.

    Sunrun Inc. (RUN) concluded trading on 08/26/20 at a closing price of $50.03, with 2.81 million shares of worth about $140.83 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 3.93% during that period and on Wednesday the price saw a loss of about -1.50%. Currently the company’s common shares owned by public are about 120.28M shares, out of which, 116.76M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the RUN stock and their offered price forecasts bring an average price target of $50.61. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $61.00 and could fall to a lowest price of $25.00. Analysts also issued an outlook of 1.90 for the Sunrun Inc. stock for next 12 months. The stock’s current price level is 1.15% above of average price target set by the analysts, while a rise to estimated low would result in loss of -100.12 for the stock. However, touching the estimated high of $61.00 would mean a gain of 17.98% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 184 times over the past 12 months. They bought 6,741,818 shares in 74 of the transactions. In 110 selling transactions, insiders dumped 1,932,858 shares.

    iShares Russell 2000 ETF, Vanguard Total Stock Market Index, and Fidelity VIP – Mid Cap Portfolio are the top 3 mutual funds which are holding stakes in Sunrun Inc. iShares Russell 2000 ETF is currently holding 2.4 million shares of worth totaling $88.03 million. The company recently came selling -0.11 million shares which brought its stake up to 1.96% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 2016.0 shares, after which its hold over company’s outstanding shares shrunk to 1.95%, leaving 2.38 million shares with the mutual fund that have a worth of about $87.5 million. Fidelity VIP – Mid Cap Portfolio, after selling 2.38 million shares, have now control over 1.94% of the stake in the company. It holds -0.17 million shares of worth $87.16 million.

    Sunrun Inc. (NASDAQ: RUN) started trading at $51.30, above $0.51 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $50.03, or with a loss of -1.50%. Stock saw a price change of 3.93% in past 5 days and over the past one month there was a price change of 23.65%. Year-to-date (YTD), RUN shares are showing a performance of 262.27% which increased to 237.13% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.84 but also hit the highest price of $51.87 during that period. While comparing its average daily trading volume of 4.08 million shares, we see that about 2.81 million changed hands on the day. The stock is currently trading 11.50% above its 20-day simple moving average (SMA20), while that difference is up 43.50% for SMA50 and it goes to 149.35% higher than SMA200.

    BlackRock Fund Advisors acquired 13.78 million shares of Sunrun Inc. having value of about $505.47 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.59 million shares in the company valued at close to $29514448.05, or have control over 4.47% stake in the company. Sunrun Inc. (NASDAQ: RUN) currently have 120.28M outstanding shares and institutions hold larger chunk of about 96.20% of that. Holding of mutual funds in the company is about 41.02% while other institutional holders and individual stake holders have control over 52.47% and 41.00% of the stake respectively.

    The stock has a current market capitalization of $5.88B and its 3Y-monthly beta is at 1.80. It has posted earnings per share of -$0.02 in the same period. It has Quick Ratio of 0.80 while making debt-to-equity ratio of 3.13. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RUN, volatility over the week remained 4.94% while standing at 7.39% over the month.

    Analysts are in expectations that Sunrun Inc. (RUN) stock would likely to be making an EPS of $0.18 in the current quarter, while forecast for next quarter ESPS is $0.23 and it is $0.57 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.16 which is $1.44 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.23 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -6.60% while it is estimated to increase by 166.98% in next year. EPS is likely to grow at an annualized rate of 18.52% for next 5-years, compared to annual growth of 18.00% made by the stock over the past 5-years.

    Analysts at 9 brokerage firms have issued recommendations for the Sunrun Inc. (RUN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 9 Wall Street analysts, 8 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by KeyBanc Capital Markets on July 13, 2020 offering an Overweight rating for the stock and assigned a target price of $32 to it. Coverage by KeyBanc Capital Markets stated Sunrun Inc. (RUN) stock as a Sector weight in their note to investors on February 19, 2020, suggesting a price target of for the stock. On January 16, 2020, JP Morgan Initiated their recommendations, while on August 20, 2019, KeyBanc Capital Markets Initiated their ratings for the stock with a price target of $19. Stock get a Buy rating from Goldman on June 18, 2019.


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