Sunrun (RUN)

• Market cap: $3.72B
• Sector: Industrials
• Industry: Miscellaneous Electrical Machinery, Equipment & Supplies

About: Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed either by Sunrun or by Sunrun's partners and are owned by the company. Sunrun's customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers.

Employees: 10,833

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

25% more funds holding in top 10

Funds holding in top 10: 4 [Q1] → 5 (+1) [Q2]

15% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 61

6.68% more ownership

Funds ownership: 109.96% [Q1] → 116.64% (+6.68%) [Q2]

2% more funds holding

Funds holding: 402 [Q1] → 411 (+9) [Q2]

4% less capital invested

Capital invested by funds: $3.18B [Q1] → $3.07B (-$113M) [Q2]

4% less repeat investments, than reductions

Existing positions increased: 136 | Existing positions reduced: 141

13% less call options, than puts

Call options by funds: $244M | Put options by funds: $281M

Research analyst outlook

16 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $16.50 1% downside
• Avg. target: $23 39% upside
• High target: $38 128% upside

16 analyst ratings

• positive: 11 69%
• neutral: 5 31%
• negative: 0 0%

Goldman Sachs Brian Lee 38% 1-year accuracy 5 / 13 met price target	20% upside $20	Buy Reiterated	25 Sept 2024
Morgan Stanley Stephen Byrd 100% 1-year accuracy 5 / 5 met price target	110% upside $35	Overweight Maintained	24 Sept 2024
Morgan Stanley Stephen Byrd 100% 1-year accuracy 5 / 5 met price target	110% upside $35	Overweight Maintained	21 Aug 2024
Deutsche Bank Corinne Blanchard 0% 1-year accuracy 0 / 5 met price target	1% downside $16.50	Hold Maintained	8 Aug 2024
Goldman Sachs Brian Lee 38% 1-year accuracy 5 / 13 met price target	20% upside $20	Buy Maintained	8 Aug 2024