Insider Selling: Sunrun (NASDAQ:RUN) CFO Sells $51,699.69 in Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 4,193 shares of Sunrun stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $12.33, for a total transaction of $51,699.69. Following the sale, the chief financial officer owned 576,244 shares in the company, valued at approximately $7,105,088.52. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, January 6th, Danny Abajian sold 7,190 shares of Sunrun stock. The shares were sold at an average price of $17.80, for a total transaction of $127,982.00.
• On Monday, December 8th, Danny Abajian sold 2,007 shares of Sunrun stock. The stock was sold at an average price of $17.79, for a total transaction of $35,704.53.

Sunrun Stock Performance

Shares of Sunrun stock opened at $11.79 on Friday. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 6.89 and a beta of 2.43. Sunrun Inc. has a twelve month low of $5.38 and a twelve month high of $22.44. The company’s fifty day moving average is $18.49 and its 200 day moving average is $18.31. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 3.38.

Sunrun (NASDAQ:RUN) last announced its earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.46. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $610.29 million. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The business’s quarterly revenue was up 123.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. Sell-side analysts forecast that Sunrun Inc. will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently modified their holdings of the company. Contour Asset Management LLC acquired a new stake in Sunrun in the 4th quarter valued at $98,010,000. Maple Rock Capital Partners Inc. lifted its position in Sunrun by 95.6% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock valued at $66,525,000 after acquiring an additional 3,974,464 shares in the last quarter. Norges Bank bought a new position in Sunrun in the 4th quarter valued at about $62,169,000. Voloridge Investment Management LLC acquired a new position in Sunrun during the 3rd quarter valued at about $40,193,000. Finally, Robeco Schweiz AG purchased a new stake in shares of Sunrun in the third quarter worth approximately $36,969,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of recent analyst reports. Glj Research downgraded shares of Sunrun from a “hold” rating to a “sell” rating and set a $6.73 price target on the stock. in a research report on Friday, February 27th. Morgan Stanley upped their price target on shares of Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Mizuho dropped their price objective on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday. TD Cowen upped their target price on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Guggenheim raised Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and a consensus target price of $19.84.

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.