Insider Selling: Sunrun (NASDAQ:RUN) CRO Sells $122,895.12 in Stock

Sunrun Inc. (NASDAQ:RUN) CRO Paul Dickson sold 15,837 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $122,895.12. Following the sale, the executive owned 823,702 shares of the company’s stock, valued at approximately $6,391,927.52. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Price Performance

Shares of NASDAQ RUN traded down $0.16 during mid-day trading on Wednesday, reaching $7.61. The company had a trading volume of 13,376,906 shares, compared to its average volume of 9,299,989. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 5.14 and a beta of 2.44. The business’s 50-day simple moving average is $8.97 and its 200 day simple moving average is $11.63. Sunrun Inc. has a one year low of $7.42 and a one year high of $22.44. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. During the same quarter in the prior year, the business posted $1.07 earnings per share. Sunrun’s revenue was up 52.8% compared to the same quarter last year. On average, research analysts predict that Sunrun Inc. will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Contour Asset Management LLC acquired a new stake in shares of Sunrun during the fourth quarter valued at about $98,010,000. Bank of America Corp DE acquired a new position in shares of Sunrun in the second quarter valued at approximately $29,953,000. Bank of New York Mellon Corp bought a new position in Sunrun in the 2nd quarter valued at approximately $18,120,000. Amundi raised its holdings in Sunrun by 56.3% in the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock valued at $44,798,000 after buying an additional 1,188,564 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Sunrun during the 2nd quarter worth approximately $12,483,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RUN shares. Mizuho set a $18.00 target price on Sunrun in a research note on Thursday, August 6th. The Goldman Sachs Group lowered their price target on Sunrun from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, September 21st. Oppenheimer restated an “outperform” rating and set a $20.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. TD Cowen reduced their price objective on Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Citigroup decreased their target price on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.70.

Sunrun Company Profile

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.