Insider Selling: Sunrun (NASDAQ:RUN) CFO Sells 9,055 Shares of Stock

Key Points

• Sunrun CFO Danny Abajian sold 9,055 shares of the company's stock at an average price of $19.35, totaling $175,214.25, resulting in a 2.09% decrease in his stock position.
• Despite the recent insider selling, analysts have shown a positive outlook for Sunrun, with upgrades in ratings from firms such as Royal Bank of Canada and Wells Fargo.
• Sunrun's latest financial results indicated a positive earnings per share (EPS) of $1.07, significantly exceeding expectations, while their revenue increased by 8.7% year-over-year.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) CFO Danny Abajian sold 9,055 shares of Sunrun stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $19.35, for a total value of $175,214.25. Following the sale, the chief financial officer directly owned 424,606 shares of the company's stock, valued at approximately $8,216,126.10. This trade represents a 2.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, September 8th, Danny Abajian sold 2,180 shares of Sunrun stock. The shares were sold at an average price of $16.93, for a total value of $36,907.40.

Sunrun Stock Down 0.3%

Shares of RUN stock traded down $0.06 during midday trading on Wednesday, reaching $19.40. 7,640,937 shares of the stock were exchanged, compared to its average volume of 10,447,330. Sunrun Inc. has a 1 year low of $5.38 and a 1 year high of $20.25. The company's 50 day moving average is $15.38 and its two-hundred day moving average is $10.72. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. The firm has a market cap of $4.48 billion, a PE ratio of -1.67 and a beta of 2.41.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $1.25. The business had revenue of $569.34 million for the quarter, compared to analysts' expectations of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. On average, equities research analysts predict that Sunrun Inc. will post -0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RUN shares. KeyCorp raised shares of Sunrun from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised shares of Sunrun from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $12.00 to $16.00 in a report on Monday, August 18th. Wells Fargo & Company boosted their target price on shares of Sunrun from $8.00 to $14.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Susquehanna boosted their target price on shares of Sunrun from $12.00 to $13.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Sunrun in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.69.

Institutional Trading of Sunrun

A number of large investors have recently modified their holdings of RUN. Smartleaf Asset Management LLC boosted its position in shares of Sunrun by 181.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company's stock valued at $34,000 after purchasing an additional 2,660 shares in the last quarter. 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. grew its stake in shares of Sunrun by 87.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company's stock worth $47,000 after acquiring an additional 2,700 shares during the last quarter. Signaturefd LLC boosted its stake in Sunrun by 436.4% during the second quarter. Signaturefd LLC now owns 7,805 shares of the energy company's stock worth $64,000 after buying an additional 6,350 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Sunrun during the fourth quarter worth $94,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Company Profile

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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