Danny Abajian Sells 3,734 Shares of Sunrun Inc. (NASDAQ:RUN) Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 3,734 shares of Sunrun stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the transaction, the chief financial officer now directly owns 257,969 shares in the company, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sunrun Stock Performance

RUN opened at $10.75 on Thursday. The company’s 50 day moving average is $10.86 and its 200 day moving average is $14.78. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -5.91 and a beta of 2.58. Sunrun Inc. has a 12-month low of $9.01 and a 12-month high of $22.26.

Wall Street Analysts Forecast Growth

RUN has been the subject of several recent analyst reports. Morgan Stanley lowered their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Truist Financial reissued a “hold” rating and set a $12.00 target price (down from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Piper Sandler lowered shares of Sunrun from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Roth Mkm lowered their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Sunrun has a consensus rating of “Hold” and a consensus price target of $19.16.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. Greenvale Capital LLP raised its stake in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after buying an additional 2,000,000 shares during the period. State Street Corp raised its stake in Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after acquiring an additional 54,329 shares during the period. Geode Capital Management LLC lifted its holdings in Sunrun by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after purchasing an additional 30,549 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sunrun by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after purchasing an additional 729,633 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Sunrun in the third quarter worth $76,152,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.