Sunrun (NASDAQ:RUN) CFO Danny Abajian Sells 16,495 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 16,495 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 $217,569.05. Following the completion of the sale, the chief financial officer owned 420,318 shares in the company, valued at $5,543,994.42. The trade was a 3.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, June 8th, Danny Abajian sold 2,030 shares of Sunrun stock. The shares were sold at an average price of $13.39, for a total value of $27,181.70.

Sunrun Trading Down 5.9%

Sunrun stock opened at $12.20 on Wednesday. The firm has a market cap of $2.91 billion, a PE ratio of 5.73 and a beta of 2.32. Sunrun Inc. has a 12 month low of $9.01 and a 12 month high of $22.44. The stock’s 50 day simple moving average is $13.68 and its two-hundred day simple moving average is $15.36. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44.

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

Institutional Trading of Sunrun

Institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of Sunrun by 6.7% during the fourth quarter. Handelsbanken Fonder AB now owns 2,314,802 shares of the energy company’s stock worth $42,592,000 after buying an additional 145,285 shares in the last quarter. LBP AM SA purchased a new position in shares of Sunrun in the fourth quarter worth about $3,307,000. Intech Investment Management LLC lifted its stake in shares of Sunrun by 33.1% in the fourth quarter. Intech Investment Management LLC now owns 324,632 shares of the energy company’s stock worth $5,973,000 after buying an additional 80,695 shares in the last quarter. Lingotto Investment Management LLP acquired a new position in Sunrun during the fourth quarter worth about $4,480,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Sunrun during the fourth quarter worth about $2,760,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RUN. Susquehanna lowered their target price on shares of Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a research note on Thursday, April 9th. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $18.00 price target on shares of Sunrun in a research report on Thursday, May 7th. Citigroup cut their price objective on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.