Insider Selling: Sunrun (NASDAQ:RUN) Insider Sells $77,925.92 in Stock

Sunrun Inc. (NASDAQ:RUN) insider Jeanna Steele sold 10,042 shares of Sunrun stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $77,925.92. Following the sale, the insider directly owned 451,673 shares of the company’s stock, valued at $3,504,982.48. This trade represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Stock Down 2.1%

Shares of Sunrun stock traded down $0.16 on Wednesday, hitting $7.61. 13,376,906 shares of the company traded hands, compared to its average volume of 9,299,989. Sunrun Inc. has a 12-month low of $7.42 and a 12-month high of $22.44. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The company has a market cap of $1.83 billion, a PE ratio of 5.14 and a beta of 2.44. The company has a 50-day moving average price of $8.97 and a 200 day moving average price of $11.63.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 52.8% on a year-over-year basis. Sell-side analysts predict that Sunrun Inc. will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun during the fourth quarter worth approximately $27,000. Allworth Financial LP bought a new position in Sunrun during the second quarter worth $25,000. Summit Securities Group LLC acquired a new position in Sunrun during the 1st quarter valued at $36,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Sunrun by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,000 shares of the energy company’s stock valued at $55,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Nykredit A S bought a new stake in Sunrun in the 2nd quarter valued at $78,000. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on RUN. UBS Group lowered their price target on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Susquehanna reduced their price target on Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a research report on Friday, August 7th. TD Cowen decreased their price target on Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Glj Research reaffirmed a “sell” rating and set a $4.63 target price on shares of Sunrun in a research report on Monday, August 17th. Finally, The Goldman Sachs Group lowered their price target on Sunrun from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.70.

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.