Mary Powell Sells 23,985 Shares of Sunrun (NASDAQ:RUN) Stock

Sunrun Inc. (NASDAQ:RUN) CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the sale, the chief executive officer directly owned 1,111,535 shares in the company, valued at approximately $14,661,146.65. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Stock Performance

Sunrun stock traded down $0.77 during midday trading on Tuesday, reaching $12.20. 14,385,861 shares of the company’s stock were exchanged, compared to its average volume of 9,647,533. The stock’s 50-day simple moving average is $13.69 and its 200 day simple moving average is $15.40. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 5.73 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. Sunrun Inc. has a 52 week low of $9.01 and a 52 week high of $22.44.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The firm had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. On average, analysts expect that Sunrun Inc. will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of Sunrun

Institutional investors have recently added to or reduced their stakes in the company. Contour Asset Management LLC acquired a new position in Sunrun in the 4th quarter valued at $98,010,000. Norges Bank bought a new stake in shares of Sunrun in the fourth quarter valued at about $62,169,000. Voloridge Investment Management LLC bought a new stake in shares of Sunrun in the third quarter valued at about $40,193,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sunrun in the third quarter valued at about $21,427,000. Finally, Invesco Ltd. grew its stake in shares of Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after acquiring an additional 1,231,628 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RUN shares. The Goldman Sachs Group restated a “buy” rating and issued a $18.00 price target on shares of Sunrun in a research note on Thursday, May 7th. TD Cowen decreased their price objective on shares of Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Citigroup dropped their price objective on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.87.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.