Sunrun (NASDAQ:RUN) CFO Sells $217,569.05 in Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 16,495 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $217,569.05. Following the transaction, the chief financial officer owned 420,318 shares of the company’s stock, valued at approximately $5,543,994.42. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Price Performance

Shares of RUN traded down $0.77 during mid-day trading on Tuesday, reaching $12.20. The stock had a trading volume of 14,385,861 shares, compared to its average volume of 9,647,533. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 5.73 and a beta of 2.32. Sunrun Inc. has a 12 month low of $9.01 and a 12 month high of $22.44. The business has a fifty day moving average of $13.69 and a 200 day moving average of $15.40. 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 (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 firm had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. During the same period last year, the firm earned $0.20 EPS. The company’s revenue was up 43.2% on a year-over-year basis. Equities analysts predict that Sunrun Inc. will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of Sunrun by 26.3% in the first quarter. Empowered Funds LLC now owns 20,856 shares of the energy company’s stock worth $283,000 after purchasing an additional 4,342 shares during the last quarter. Bank of America Corp DE boosted its stake in Sunrun by 74.7% during the first quarter. Bank of America Corp DE now owns 2,054,524 shares of the energy company’s stock valued at $27,859,000 after buying an additional 878,319 shares during the last quarter. Amundi grew its holdings in Sunrun by 56.3% during the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock valued at $44,798,000 after buying an additional 1,188,564 shares in the last quarter. California State Teachers Retirement System grew its holdings in Sunrun by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 267,162 shares of the energy company’s stock valued at $3,623,000 after buying an additional 48,965 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Sunrun by 3.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 149,359 shares of the energy company’s stock worth $2,025,000 after acquiring an additional 5,545 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RUN. UBS Group lowered their price objective on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Glj Research reissued a “sell” rating on shares of Sunrun in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $17.00 price target on shares of Sunrun in a report on Friday, May 8th. Citigroup dropped their price target on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Finally, Susquehanna cut their price objective on shares of Sunrun from $24.00 to $19.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.