Sunrun (NASDAQ:RUN) Trading Down 6% After Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares fell 6% on Monday after an insider sold shares in the company. The stock traded as low as $12.71 and last traded at $12.4810. 4,930,691 shares were traded during trading, a decline of 47% from the average session volume of 9,363,171 shares. The stock had previously closed at $13.28.

Specifically, CAO Maria Barak sold 8,039 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $13.67, for a total value of $109,893.13. Following the sale, the chief accounting officer owned 72,963 shares of the company’s stock, valued at $997,404.21. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 76,478 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $1,013,333.50. Following the completion of the sale, the insider directly owned 384,538 shares in the company, valued at $5,095,128.50. This trade represents a 16.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other Sunrun news, CEO Mary Powell sold 193,002 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $2,557,276.50. Following the sale, the chief executive officer owned 934,282 shares of the company’s stock, valued at $12,379,236.50. The trade was a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Ratings Changes

Several brokerages have issued reports on RUN. The Goldman Sachs Group boosted their price target on shares of Sunrun from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Freedom Capital lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings raised shares of Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. UBS Group lowered their target price on shares of Sunrun from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, Susquehanna lowered their target price on shares of Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sunrun presently has an average rating of “Hold” and an average target price of $18.88.

Sunrun Trading Down 3.9%

The business’s fifty day simple moving average is $15.22 and its 200 day simple moving average is $17.68. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 3.38. The stock has a market cap of $2.99 billion, a P/E ratio of 7.46 and a beta of 2.37.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.46. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $610.29 million. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue was up 123.5% on a year-over-year basis. As a group, analysts expect that Sunrun Inc. will post -0.43 EPS for the current year.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its holdings in Sunrun by 3,147.1% during the 3rd quarter. Quantbot Technologies LP now owns 153,164 shares of the energy company’s stock worth $2,648,000 after acquiring an additional 148,447 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Sunrun by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,194,915 shares of the energy company’s stock worth $20,660,000 after acquiring an additional 63,284 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Sunrun by 41.7% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 498,530 shares of the energy company’s stock worth $8,620,000 after acquiring an additional 146,588 shares during the last quarter. Range Financial Group LLC bought a new stake in Sunrun during the 3rd quarter worth about $1,403,000. Finally, Vanguard Group Inc. grew its holdings in Sunrun by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock worth $418,300,000 after acquiring an additional 288,945 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.