Tybourne Capital Management HK Ltd. Makes New Investment in Sunrun Inc. (NASDAQ:RUN)

Tybourne Capital Management HK Ltd. bought a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 120,183 shares of the energy company’s stock, valued at approximately $2,171,000. Sunrun comprises about 0.6% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 20th biggest position. Tybourne Capital Management HK Ltd. owned 0.05% of Sunrun at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC increased its stake in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares during the period. Blue Trust Inc. grew its holdings 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 worth $33,000 after purchasing an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in Sunrun in the 2nd quarter worth about $36,000. CWM LLC boosted its position in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after buying an additional 3,014 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Sunrun in the 2nd quarter worth about $45,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RUN has been the subject of a number of research reports. Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Glj Research reiterated a “sell” rating and issued a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. Susquehanna cut their price target on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Friday, September 27th. Two research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.28.

Sunrun Stock Performance

RUN opened at $11.55 on Thursday. The company has a market cap of $2.59 billion, a P/E ratio of -6.35 and a beta of 2.61. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm’s 50-day moving average price is $14.54 and its 200-day moving average price is $15.41. Sunrun Inc. has a 52-week low of $9.23 and a 52-week high of $22.26.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total transaction of $497,000.00. Following the completion of the sale, the director now owns 1,092,446 shares of the company’s stock, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mary Powell sold 2,148 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total value 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 represents a 0.37 % decrease in their ownership of the stock. 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. 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.