Danny Abajian Sells 2,030 Shares of Sunrun (NASDAQ:RUN) Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 2,030 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $13.39, for a total value of $27,181.70. Following the completion of the transaction, the chief financial officer owned 438,781 shares of the company’s stock, valued at $5,875,277.59. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, April 6th, Danny Abajian sold 132,953 shares of Sunrun stock. The stock was sold at an average price of $13.25, for a total value of $1,761,627.25.

Sunrun Stock Down 5.6%

NASDAQ:RUN opened at $11.90 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. The stock’s fifty day moving average is $13.62 and its two-hundred day moving average is $16.05. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.44. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 5.59 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company had revenue of $722.23 million for the quarter, compared to analysts’ expectations of $688.50 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue was up 43.2% compared to the same quarter last year. Research analysts anticipate that Sunrun Inc. will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group decreased their price target on Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. TD Cowen decreased their price target on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Glj Research restated a “sell” rating and set a $4.63 price target on shares of Sunrun in a research note on Thursday, April 16th. Weiss Ratings cut Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, Mizuho decreased their price target on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.48.

Institutional Trading of Sunrun

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP raised its stake in shares of Sunrun by 3,147.1% in the third quarter. Quantbot Technologies LP now owns 153,164 shares of the energy company’s stock valued at $2,648,000 after acquiring an additional 148,447 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Sunrun by 5.6% in the third quarter. Principal Financial Group Inc. now owns 1,194,915 shares of the energy company’s stock valued at $20,660,000 after acquiring an additional 63,284 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sunrun by 1.2% in the third quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock valued at $418,300,000 after acquiring an additional 288,945 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Sunrun by 132.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after acquiring an additional 1,609,803 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Sunrun by 6.7% in the fourth quarter. Handelsbanken Fonder AB now owns 2,314,802 shares of the energy company’s stock valued at $42,592,000 after acquiring an additional 145,285 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Company Profile

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.