Sunrun (NASDAQ:RUN) Shares Down 5.8% Following Insider Selling

Sunrun Inc. (NASDAQ:RUN – Get Rating) shares dropped 5.8% during trading on Friday after an insider sold shares in the company. The stock traded as low as $17.80 and last traded at $17.90. Approximately 2,210,690 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 8,047,220 shares. The stock had previously closed at $19.01.

Specifically, CFO Danny Abajian sold 9,839 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $25.51, for a total value of $250,992.89. Following the completion of the transaction, the chief financial officer now directly owns 178,288 shares of the company’s stock, valued at $4,548,126.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sunrun news, Director Lynn Michelle Jurich sold 2,986 shares of Sunrun stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $17.70, for a total transaction of $52,852.20. Following the sale, the director now directly owns 1,411,220 shares of the company’s stock, valued at approximately $24,978,594. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Danny Abajian sold 9,839 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $25.51, for a total value of $250,992.89. Following the completion of the sale, the chief financial officer now directly owns 178,288 shares in the company, valued at $4,548,126.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,843 shares of company stock valued at $6,813,248. 4.29% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on RUN shares. BMO Capital Markets dropped their target price on shares of Sunrun from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. Truist Financial reduced their target price on shares of Sunrun from $52.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, February 17th. Morgan Stanley lowered their target price on shares of Sunrun from $72.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 10th. Finally, Janney Montgomery Scott assumed coverage on shares of Sunrun in a report on Thursday, December 1st. They issued a “neutral” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.89.

Sunrun Stock Down 8.9 %

The stock has a fifty day moving average price of $24.49 and a two-hundred day moving average price of $27.01. The company has a market cap of $3.71 billion, a P/E ratio of 22.49 and a beta of 2.30. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.82 and a quick ratio of 1.14.

Sunrun (NASDAQ:RUN – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The energy company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.26. Sunrun had a return on equity of 2.37% and a net margin of 7.47%. The firm had revenue of $609.20 million during the quarter, compared to analyst estimates of $588.89 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue was up 40.0% compared to the same quarter last year. On average, research analysts expect that Sunrun Inc. will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of Sunrun in the third quarter worth about $17,270,000. Pathstone Family Office LLC raised its holdings in shares of Sunrun by 24.0% in the 3rd quarter. Pathstone Family Office LLC now owns 50,137 shares of the energy company’s stock valued at $1,383,000 after purchasing an additional 9,710 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Sunrun in the 3rd quarter valued at $179,000. AlphaCrest Capital Management LLC grew its position in Sunrun by 132.1% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 50,001 shares of the energy company’s stock worth $1,380,000 after purchasing an additional 28,456 shares during the last quarter. Finally, Integrity Advisory LLC purchased a new stake in shares of Sunrun in the third quarter valued at about $219,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.

Sunrun Company Profile

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Sunrun, Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.