Sunrun (NASDAQ:RUN) Shares Gap Down Following Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $11.37, but opened at $10.90. Sunrun shares last traded at $10.56, with a volume of 1,218,586 shares traded.

Specifically, CFO Danny Abajian sold 3,734 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now directly owns 418,492 shares in the company, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the sale, the chief executive officer now owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. The Goldman Sachs Group reduced their price target on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Tuesday. Glj Research reaffirmed a “sell” rating and set a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. Finally, Susquehanna lowered their price target on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun currently has an average rating of “Hold” and an average price target of $19.31.

Sunrun Trading Down 5.8 %

The company has a fifty day simple moving average of $10.92 and a two-hundred day simple moving average of $14.81. The company has a market capitalization of $2.40 billion, a P/E ratio of -5.88 and a beta of 2.58. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Greenvale Capital LLP lifted its position in Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares during the last quarter. State Street Corp boosted 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 valued at $165,424,000 after purchasing an additional 54,329 shares during the period. Geode Capital Management LLC grew its holdings in Sunrun by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after buying an additional 30,549 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after buying an additional 729,633 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in shares of Sunrun in the third quarter valued at approximately $76,152,000. 91.69% of the stock is owned by 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.