Sunrun (NASDAQ:RUN) Insider Sells 9,897 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) insider Jeanna Steele sold 9,897 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the sale, the insider owned 461,715 shares of the company’s stock, valued at approximately $6,090,020.85. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Price Performance

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

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm had revenue of $722.23 million during the quarter, compared to analysts’ expectations of $688.50 million. During the same quarter in the prior year, the business 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, sell-side analysts predict that Sunrun Inc. will post 1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Barclays lowered their price target on shares of Sunrun from $23.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Jefferies Financial Group cut their price objective on Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $17.00 price objective on shares of Sunrun in a research report on Friday, May 8th. Finally, Citigroup dropped their target price on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.87.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Contour Asset Management LLC bought a new stake in shares of Sunrun in the 4th quarter valued at about $98,010,000. Norges Bank bought a new stake in Sunrun in the fourth quarter valued at approximately $62,169,000. Voloridge Investment Management LLC acquired a new stake in Sunrun during the 3rd quarter valued at approximately $40,193,000. Arrowstreet Capital Limited Partnership acquired a new stake in Sunrun during the 3rd quarter valued at approximately $21,427,000. Finally, Invesco Ltd. raised its holdings in Sunrun by 26.6% during the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after purchasing an additional 1,231,628 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

About Sunrun

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.