Sunrun

Sunrun (RUN) had a strong start in 2019. So far, the stock has risen more than 40%. Sunrun also had a strong rally last year, which crushed other solar stocks due to its strong earnings growth. According to a recent 13F filing, Tiger Global Management was the top institutional investor in Sunrun with close to a 16% stake at the end of the fourth quarter. Tiger Global Management has been adding to its Sunrun holdings for the last few quarters. In the fourth quarter, Tiger Global Management bought net 2.9 million shares. In the third quarter, Tiger Global Management bought net ~1 million shares of Sunrun.

Sunrun: What Institutional Activity Suggests

Are institutions bullish?

Millennium Management added net ~1.8 million shares and held more than a 2.6% stake in Sunrun as of December 31. Venture Capital Company Sequoia Capital Partners maintained its stake at 6.8% in the fourth quarter. Foundation Capital, based in Silicon Valley, was among the top sellers of Sunrun during the fourth quarter. Foundation Capital sold more than 2.3 million shares of the solar company in the fourth quarter.

Analysts’ views

Sunrun has a median target price of $17.13—compared to its current market price of $15.47, which indicates a potential upside of 10.7% for the next 12 months.

Among the eight analysts that currently track Sunrun, two recommended a “strong buy,” three recommended a “buy,” and three recommended a “hold.” None of the analysts recommended a “sell” as of February 20.

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