Tiger Global Increases Sunrun Position ~ market folly

Wednesday, May 30, 2018

Tiger Global Increases Sunrun Position

Chase Coleman's hedge fund firm Tiger Global has filed a 13G with the SEC regarding its stake in Sunrun (RUN).  Per the filing, Tiger Global now owns 10.7% of the company with over 11.67 million shares.  This is up significantly from the 5.74 million shares they disclosed back at the end of the first quarter.

An additional Form 4 filed with the SEC shows Tiger was buying RUN shares on May 25th, 29th, and 30th.  In total, they bought 776,138 shares at weighted average prices from $10.71 to $11.50.  The filing also notes the securities are held by advisory clients of Tiger Global.

Per Yahoo Finance, Sunrun "engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing. Sunrun Inc. was founded in 2007 and is headquartered in San Francisco, California."

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