Danny Abajian Sells 16,495 Shares of Sunrun (NASDAQ:RUN) Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 16,495 shares of Sunrun stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $217,569.05. Following the completion of the sale, the chief financial officer owned 420,318 shares of the company’s stock, valued at $5,543,994.42. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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, June 8th, Danny Abajian sold 2,030 shares of Sunrun stock. The shares were sold at an average price of $13.39, for a total transaction of $27,181.70.

Sunrun Stock Performance

RUN traded down $0.77 during midday trading on Tuesday, hitting $12.20. 14,385,861 shares of the company traded hands, compared to its average volume of 9,647,533. The company’s 50-day moving average is $13.69 and its 200 day moving average is $15.40. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. The firm has a market capitalization 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.

Sunrun (NASDAQ:RUN) last announced its quarterly 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. The firm had revenue of $722.23 million during the quarter, compared to analyst estimates of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The business’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. On average, research analysts expect that Sunrun Inc. will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of Sunrun by 26.3% during the 1st quarter. Empowered Funds LLC now owns 20,856 shares of the energy company’s stock valued at $283,000 after acquiring an additional 4,342 shares during the period. Bank of America Corp DE raised its holdings in Sunrun by 74.7% in the 1st quarter. Bank of America Corp DE now owns 2,054,524 shares of the energy company’s stock worth $27,859,000 after purchasing an additional 878,319 shares during the period. Amundi lifted its position in Sunrun by 56.3% during the first quarter. Amundi now owns 3,300,626 shares of the energy company’s stock valued at $44,798,000 after purchasing an additional 1,188,564 shares in the last quarter. California State Teachers Retirement System lifted its position in Sunrun by 22.4% during the first quarter. California State Teachers Retirement System now owns 267,162 shares of the energy company’s stock valued at $3,623,000 after purchasing an additional 48,965 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Sunrun by 3.9% during the first quarter. The Manufacturers Life Insurance Company now owns 149,359 shares of the energy company’s stock valued at $2,025,000 after purchasing an additional 5,545 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $17.00 target price on shares of Sunrun in a research note on Friday, May 8th. Barclays dropped their price target on Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Weiss Ratings upgraded Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Susquehanna lowered their target price on Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. Finally, Glj Research reissued a “sell” rating on shares of Sunrun in a research report on Wednesday, June 24th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.87.

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.