Insider Selling: Sunrun Inc. (NASDAQ:RUN) Director Sells 50,000 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the sale, the director now directly owns 1,294,383 shares of the company’s stock, valued at approximately $21,913,904.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lynn Michelle Jurich also recently made the following trade(s):

• On Thursday, June 20th, Lynn Michelle Jurich sold 50,000 shares of Sunrun stock. The stock was sold at an average price of $12.11, for a total transaction of $605,500.00.
• On Wednesday, June 5th, Lynn Michelle Jurich sold 50,000 shares of Sunrun stock. The stock was sold at an average price of $14.06, for a total transaction of $703,000.00.

Sunrun Price Performance

RUN traded down $0.01 during midday trading on Monday, hitting $16.94. 13,743,260 shares of the company traded hands, compared to its average volume of 13,522,632. The business has a 50 day simple moving average of $13.63 and a two-hundred day simple moving average of $13.09. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -2.54 and a beta of 2.61. Sunrun Inc. has a 52-week low of $8.43 and a 52-week high of $22.16.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The firm had revenue of $458.20 million for the quarter, compared to the consensus estimate of $471.38 million. During the same period last year, the firm posted ($1.12) earnings per share. The company’s revenue for the quarter was down 22.3% on a year-over-year basis. On average, equities analysts forecast that Sunrun Inc. will post -1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Sunrun by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock worth $243,728,000 after buying an additional 126,321 shares during the period. Diversified Trust Co purchased a new stake in Sunrun during the 4th quarter worth approximately $221,000. Pacer Advisors Inc. grew its holdings in Sunrun by 79.0% during the 4th quarter. Pacer Advisors Inc. now owns 32,644 shares of the energy company’s stock worth $641,000 after acquiring an additional 14,412 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Sunrun during the 4th quarter worth approximately $664,000. Finally, Pinnacle Associates Ltd. acquired a new position in Sunrun during the 4th quarter worth approximately $255,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Susquehanna boosted their price objective on shares of Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. Morgan Stanley boosted their price objective on shares of Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Jefferies Financial Group reduced their price objective on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Piper Sandler upped their price target on shares of Sunrun from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Mizuho cut their price target on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and an average target price of $21.32.

About Sunrun

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.