Insider Selling: Sunrun (NASDAQ:RUN) Insider Sells 21,037 Shares of Stock

Key Points

• Jeanna Steele, an insider at Sunrun, sold 21,037 shares of the company's stock on October 9th for a total of approximately $425,999, reducing her ownership stake by 5.43%.
• Sunrun's stock price decreased by $0.49 to hit $20.68, with shares trading at a market capitalization of $4.77 billion, despite a strong quarterly earnings report that surpassed analyst expectations.
• Several brokerages have recently upgraded Sunrun's stock rating, with Zacks raising it to a "strong-buy", indicating a positive outlook and a consensus target price of $16.21 among analysts.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) insider Jeanna Steele sold 21,037 shares of the business's stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $20.25, for a total transaction of $425,999.25. Following the transaction, the insider directly owned 366,264 shares of the company's stock, valued at approximately $7,416,846. This represents a 5.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Jeanna Steele also recently made the following trade(s):

• On Wednesday, October 8th, Jeanna Steele sold 1,526 shares of Sunrun stock. The stock was sold at an average price of $19.75, for a total value of $30,138.50.
• On Monday, October 6th, Jeanna Steele sold 4,440 shares of Sunrun stock. The stock was sold at an average price of $19.34, for a total transaction of $85,869.60.
• On Wednesday, October 1st, Jeanna Steele sold 20,426 shares of Sunrun stock. The stock was sold at an average price of $19.35, for a total transaction of $395,243.10.
• On Monday, September 8th, Jeanna Steele sold 1,433 shares of Sunrun stock. The stock was sold at an average price of $16.93, for a total transaction of $24,260.69.
• On Tuesday, August 26th, Jeanna Steele sold 7,077 shares of Sunrun stock. The stock was sold at an average price of $16.75, for a total transaction of $118,539.75.
• On Monday, August 18th, Jeanna Steele sold 17,417 shares of Sunrun stock. The stock was sold at an average price of $16.25, for a total transaction of $283,026.25.

Sunrun Price Performance

Shares of RUN stock traded down $0.49 during trading on Tuesday, hitting $20.68. The company had a trading volume of 7,163,625 shares, compared to its average volume of 16,018,754. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The stock's 50-day moving average is $15.99 and its two-hundred day moving average is $11.07. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -1.78 and a beta of 2.41. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $21.19.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. Sunrun's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. As a group, analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on RUN. Zacks Research raised Sunrun from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Susquehanna increased their price objective on Sunrun from $13.00 to $23.00 and gave the company a "positive" rating in a research note on Monday. Royal Bank Of Canada raised Sunrun from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $12.00 to $16.00 in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft upped their target price on Sunrun from $11.00 to $20.00 and gave the company a "hold" rating in a report on Wednesday, October 1st. Finally, KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Sunrun currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.21.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Sunrun by 181.0% during the second 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 in the last quarter. Spire Wealth Management increased its holdings in Sunrun by 960.0% in 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 in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Sunrun by 87.1% in 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 in the last quarter. Apollon Wealth Management LLC purchased a new position in Sunrun in the first quarter worth about $60,000. Finally, US Bancorp DE boosted its position in Sunrun by 107.6% in the first quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after purchasing an additional 5,342 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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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