Sunrun (NASDAQ:RUN) CEO Mary Powell Sells 23,985 Shares

Sunrun Inc. (NASDAQ:RUN) CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the transaction, the chief executive officer owned 1,111,535 shares in the company, valued at $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Stock Performance

NASDAQ:RUN opened at $12.20 on Wednesday. The stock has a market cap of $2.91 billion, a P/E ratio of 5.73 and a beta of 2.32. 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 business’s 50-day moving average price is $13.68 and its two-hundred day moving average price is $15.36. Sunrun Inc. has a twelve month low of $9.01 and a twelve month high of $22.44.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.67. The company had revenue of $722.23 million for the quarter, compared to analysts’ expectations of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. Sunrun’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. As a group, equities analysts predict that Sunrun Inc. will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective 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. Weiss Ratings raised Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $17.00 price objective on shares of Sunrun in a report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating and set a $18.00 price objective on shares of Sunrun in a report on Thursday, May 7th. Finally, Glj Research restated a “sell” rating on shares of Sunrun in a research report on Wednesday, June 24th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.87.

Hedge Funds Weigh In On Sunrun

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Sunrun by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after acquiring an additional 165,196 shares during the period. Invesco Ltd. increased its position in Sunrun by 26.6% during the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after purchasing an additional 1,231,628 shares during the period. Geode Capital Management LLC raised its holdings in Sunrun by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock worth $104,220,000 after purchasing an additional 205,627 shares in the last quarter. Contour Asset Management LLC purchased a new stake in shares of Sunrun in the 4th quarter worth about $98,010,000. Finally, Voloridge Investment Management LLC lifted its position in shares of Sunrun by 47.3% in the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after purchasing an additional 1,100,666 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.