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

Sunrun Inc. (NASDAQ:RUN) insider Jeanna Steele sold 9,897 shares of the stock in a transaction dated 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. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Trading Down 5.9%

Shares of NASDAQ:RUN 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. Sunrun Inc. has a fifty-two week low of $9.01 and a fifty-two week high of $22.44. 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 firm has a 50 day moving average price of $13.69 and a two-hundred day moving average price of $15.40. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 5.73 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. During the same period in the previous year, the company posted $0.20 earnings per share. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. As a group, analysts forecast that Sunrun Inc. will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Sunrun

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on RUN. Barclays reduced 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. UBS Group reduced their target price on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Citigroup dropped their price target on Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Susquehanna cut their price target on Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. Finally, Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.