Insider Selling: Sunrun (NASDAQ:RUN) CFO Sells 2,030 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 2,030 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $13.39, for a total transaction of $27,181.70. Following the completion of the transaction, the chief financial officer owned 438,781 shares of the company’s stock, valued at $5,875,277.59. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Danny Abajian also recently made the following trade(s):

• On Monday, April 6th, Danny Abajian sold 132,953 shares of Sunrun stock. The stock was sold at an average price of $13.25, for a total transaction of $1,761,627.25.

Sunrun Stock Down 6.4%

Shares of Sunrun stock traded down $0.86 during trading on Tuesday, hitting $12.60. The company’s stock had a trading volume of 10,347,237 shares, compared to its average volume of 9,241,654. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The company has a fifty day simple moving average of $13.63 and a two-hundred day simple moving average of $16.14. The company has a market capitalization of $3.01 billion, a PE ratio of 5.92 and a beta of 2.32. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.44.

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

Wall Street Analysts Forecast Growth

RUN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $17.00 price target on shares of Sunrun in a research note on Friday, May 8th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Freedom Capital cut Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Citigroup reduced their price objective on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Finally, Barclays lowered their price target on Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sunrun has a consensus rating of “Hold” and an average price target of $18.48.

Institutional Investors Weigh In On Sunrun

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Sunrun by 5.1% during the 1st quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after acquiring an additional 30,175 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Sunrun by 47.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock worth $192,000 after acquiring an additional 10,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sunrun by 2.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after acquiring an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Sunrun by 511.0% in the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after purchasing an additional 22,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Sunrun by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after purchasing an additional 718,955 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.