Sunrun (NASDAQ:RUN) CFO Danny Abajian Sells 2,030 Shares

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 2,030 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $13.39, for a total transaction of $27,181.70. Following the sale, the chief financial officer directly owned 438,781 shares in the company, valued at $5,875,277.59. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, April 6th, Danny Abajian sold 132,953 shares of Sunrun stock. The stock was sold at an average price of $13.25, for a total transaction of $1,761,627.25.

Sunrun Price Performance

Shares of RUN stock traded down $0.86 on Tuesday, reaching $12.60. 10,347,237 shares of the company were exchanged, compared to its average volume of 9,241,654. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 5.92 and a beta of 2.32. The business has a 50-day moving average price of $13.63 and a 200 day moving average price of $16.14. 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 Inc. has a 1 year low of $5.38 and a 1 year high of $22.44.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. The business had revenue of $722.23 million during 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%. The company’s quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. Equities research analysts forecast that Sunrun Inc. will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

RUN has been the subject of a number of recent research reports. Freedom Capital cut shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Loop Capital set a $12.00 target price on shares of Sunrun in a research report on Tuesday, March 3rd. Susquehanna reduced their target price on shares of Sunrun from $24.00 to $19.00 and set a “positive” rating for the company in a research report on Thursday, April 9th. JPMorgan Chase & Co. reduced their target price on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $18.00 target price on shares of Sunrun in a research report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.48.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in Sunrun by 156.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after buying an additional 885 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Sunrun in the 4th quarter valued at approximately $27,000. Sycomore Asset Management acquired a new position in shares of Sunrun in the third quarter worth $28,000. Hantz Financial Services Inc. grew its stake in shares of Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after acquiring an additional 564 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Sunrun during the fourth quarter worth $30,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.