Danny Abajian Sells 2,180 Shares of Sunrun (NASDAQ:RUN) Stock

Key Points

• Danny Abajian, CFO of Sunrun, sold 2,180 shares of the company's stock at an average price of $16.93, totaling approximately $36,907, resulting in a 0.50% decrease in his ownership.
• Sunrun's most recent earnings report indicated a consensus-beating earnings per share of $1.07 and revenue of $569.34 million, which surpassed analyst estimates.
• Institutional investors have significantly increased their holdings in Sunrun, with Smartleaf Asset Management growing its position by 181% in the second quarter.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) CFO Danny Abajian sold 2,180 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $16.93, for a total transaction of $36,907.40. Following the completion of the transaction, the chief financial officer owned 435,479 shares in the company, valued at $7,372,659.47. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Danny Abajian also recently made the following trade(s):

• On Monday, July 7th, Danny Abajian sold 8,909 shares of Sunrun stock. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20.

Sunrun Trading Up 1.1%

RUN traded up $0.17 during mid-day trading on Wednesday, hitting $16.20. The stock had a trading volume of 6,939,246 shares, compared to its average volume of 16,461,262. The stock's fifty day simple moving average is $12.64 and its 200-day simple moving average is $9.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -1.40 and a beta of 2.21. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $21.77.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $1.25. The company had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, research analysts forecast that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RUN shares. Wells Fargo & Company raised their price objective on shares of Sunrun from $8.00 to $14.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. UBS Group raised their target price on shares of Sunrun from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, August 8th. BNP Paribas raised shares of Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Zacks Research raised shares of Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Cowen reissued a "buy" rating on shares of Sunrun in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of Sunrun by 181.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company's stock valued at $34,000 after acquiring an additional 2,660 shares during the period. Spire Wealth Management boosted its holdings in shares of Sunrun by 960.0% during the 2nd quarter. Spire Wealth Management now owns 5,300 shares of the energy company's stock worth $43,000 after buying an additional 4,800 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Sunrun by 87.1% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company's stock worth $47,000 after buying an additional 2,700 shares during the period. Signaturefd LLC boosted its holdings in shares of Sunrun by 436.4% during the 2nd quarter. Signaturefd LLC now owns 7,805 shares of the energy company's stock worth $64,000 after buying an additional 6,350 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Sunrun during the 4th quarter worth about $92,000. Institutional investors own 91.69% of the company's stock.

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.

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