BlackRock Fund Advisors recently announced the acquisition of new stake in Sunrun Inc. (NASDAQ:RUN). The institutional investor has increased its shareholding in the Technology company by 4.47% to 13.78 million shares with purchase of 0.59 million shares. This fresh investment now brings its stake to 11.26% valued currently at $505.47 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.21 million to 8.68 million shares. And Fidelity Management & Research Co.. has lifted its position by 9.62% or 0.53 million shares – to 6.03 million shares.
With over 3.85 million Sunrun Inc. (RUN) shares trading Friday and a closing price of $55.51 on the day, the dollar volume was approximately $213.7 million. The shares have shown a positive weekly performance of 15.09% and its price on 08/28/20 gained nearly 6.55%. Currently, there are 120.28M common shares owned by the public and among those 116.76M shares have been available to trade.
Incidentally, analysts’ outlook for the Sunrun Inc. stock is 1.90 for the next 12 months.
Insiders at the company have transacted a total of 182 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 72 of these insider trades were purchases, accounting for 6,327,818 shares. Insider sales of the common stock occurred on 110 occasions, with total insider shares sold totaling 1,932,858 shares.
The top 3 mutual fund holders in Sunrun Inc. are iShares Russell 2000 ETF, Vanguard Total Stock Market Index, and Fidelity VIP – Mid Cap Portfolio. iShares Russell 2000 ETF owns 2.4 million shares of the company’s stock, all valued at over $88.03 million. The company sold -0.11 million shares recently to bring their total holdings to about 1.96% of the shares outstanding. Vanguard Total Stock Market Index sold 2016.0 shares to see its total holdings shrink to 2.38 million shares valued at over $87.5 million and representing 1.95% of the shares outstanding. Fidelity VIP – Mid Cap Portfolio sold -0.17 million shares to bring its total holdings to over 2.38 million shares at a value of $87.16 million. Fidelity VIP – Mid Cap Portfolio now owns shares totaling to 1.94% of the shares outstanding.
Shares of Sunrun Inc. (NASDAQ: RUN) opened at $52.67, up $0.57 from a prior closing price of $52.10. However, the script later closed the day at $55.51, up 6.55%. The company’s stock has a 5-day price change of 15.09% and 214.15% over the past three months. RUN shares are trading 301.96% year to date (YTD), with the 12-month market performance up to 265.92% higher. It has a 12-month low price of $7.84 and touched a high of $52.78 over the same period. Currently, 3.85 million shares have been traded, compared to an average intraday trading volume of 4.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.86%, 53.69%, and 171.72% respectively.
Institutional ownership of Sunrun Inc. (NASDAQ: RUN) shares accounts for 96.20% of the company’s 120.28M shares outstanding. Mutual fund holders own 41.08%, while other institutional holders and individual stakeholders account for 52.46% and 41.00% respectively.
It has a market capitalization of $6.42B and a beta (3y monthly) value of 1.90. The earnings-per-share (ttm) stands at -$0.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.55% over the week and 7.32% over the month.
Analysts forecast that Sunrun Inc. (RUN) will achieve an EPS of $0.18 for the current quarter, $0.23 for the next quarter and $0.57 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of $1.44. Comparatively, EPS for the current quarter was $0.23 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.60%, and 166.98% over the next financial year. EPS should shrink at an annualized rate of -0.10% over the next five years, compared to 18.00% over the past 5-year period.
Looking at the support for the RUN, a number of firms have released research notes about the stock. KeyBanc Capital Markets stated their Overweight rating for the stock in a research note on July 13, 2020, with the firm’s price target at $32. KeyBanc Capital Markets coverage for the Sunrun Inc. (RUN) stock in a research note released on February 19, 2020 offered a Sector Weight rating with a price target of. JP Morgan was of a view on January 16, 2020 that the stock is Overweight, while KeyBanc Capital Markets gave the stock Overweight rating on August 20, 2019, issuing a price target of $19. Goldman on their part issued Buy rating on June 18, 2019.