Insider Selling: Sunrun (NASDAQ:RUN) CFO Sells $129,855.84 in Stock

Key Points

• Sunrun CFO Danny Abajian sold 16,734 shares at an average price of $7.76, generating $129,855.84. The sale covered tax-withholding obligations tied to vested equity awards and reduced his holdings by 4.15% to 386,532 shares.
• Sunrun shares fell to $7.61, near their one-year low of $7.42, compared with a one-year high of $22.44. The stock has a market capitalization of about $1.83 billion and carries a debt-to-equity ratio of 3.34.
• Analysts have a consensus “Hold” rating and an average price target of $16.70, while Sunrun’s latest quarterly results exceeded expectations, with $0.42 adjusted EPS and $869.99 million in revenue, up 52.8% year over year.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) CFO Danny Abajian sold 16,734 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $129,855.84. Following the sale, the chief financial officer owned 386,532 shares in the company, valued at approximately $2,999,488.32. This represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Stock Performance

Shares of NASDAQ RUN traded down $0.16 during mid-day trading on Wednesday, hitting $7.61. The company had a trading volume of 13,376,906 shares, compared to its average volume of 9,299,989. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. Sunrun Inc. has a 1 year low of $7.42 and a 1 year high of $22.44. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 5.14 and a beta of 2.44. The stock's 50-day moving average price is $8.97 and its 200-day moving average price is $11.63.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business had revenue of $869.99 million for the quarter, compared to analysts' expectations of $746.87 million. During the same quarter in the prior year, the firm posted $1.07 EPS. The firm's quarterly revenue was up 52.8% on a year-over-year basis. On average, sell-side analysts forecast that Sunrun Inc. will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RUN. Glj Research restated a "sell" rating and issued a $4.63 price objective on shares of Sunrun in a research report on Monday, August 17th. Susquehanna lowered their target price on shares of Sunrun from $18.00 to $15.00 and set a "positive" rating on the stock in a research note on Friday, August 7th. UBS Group cut their price target on shares of Sunrun from $23.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Oppenheimer reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Sunrun in a report on Thursday, August 6th. Finally, TD Cowen lowered their price objective on Sunrun from $21.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. 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 company's stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of "Hold" and a consensus target price of $16.70.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Contour Asset Management LLC bought a new stake in Sunrun during the fourth quarter worth about $98,010,000. Bank of America Corp DE bought a new position in shares of Sunrun during the 2nd quarter valued at about $29,953,000. Bank of New York Mellon Corp bought a new position in shares of Sunrun during the 2nd quarter valued at about $18,120,000. Amundi raised its holdings in shares of Sunrun by 56.3% during 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 in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Sunrun during the 2nd quarter valued at about $12,483,000. Institutional investors own 91.69% of the company's stock.

About Sunrun

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.