Key Points
- Sunrun CFO Danny Abajian sold 2,030 shares on June 8 at an average price of $13.39, totaling about $27,182. The filing says the sale was to cover tax withholding obligations tied to vested equity awards.
- After the transaction, Abajian still held 438,781 shares valued at roughly $5.88 million, and the sale reduced his position by just 0.46%. He also sold 132,953 shares in April at an average price of $13.25.
- Sunrun reported strong quarterly results, including EPS of $0.62 versus analyst expectations for a loss and revenue of $722.23 million, up 43.2% year over year. Despite that, the stock was down 6.4% and analysts currently have a consensus rating of Hold with an average price target of $18.48.
Sunrun Inc. (NASDAQ:RUN - Get Free Report) CFO Danny Abajian sold 2,030 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $13.39, for a total value of $27,181.70. Following the completion of the sale, the chief financial officer directly owned 438,781 shares in the company, valued at approximately $5,875,277.59. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $13.25, for a total value of $1,761,627.25.
Sunrun Stock Down 6.4%
Shares of NASDAQ RUN opened at $12.60 on Wednesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 5.92 and a beta of 2.32. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. Sunrun Inc. has a 52-week low of $5.38 and a 52-week high of $22.44. The business's 50 day moving average is $13.63 and its two-hundred day moving average is $16.09.
Sunrun (NASDAQ:RUN - Get Free Report) last announced its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $688.50 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm's quarterly revenue was up 43.2% compared to the same quarter last year. Research analysts predict that Sunrun Inc. will post 1.09 EPS for the current year.
Hedge Funds Weigh In On Sunrun
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in 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. Dimensional Fund Advisors LP boosted its stake in Sunrun by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company's stock valued at $88,375,000 after acquiring an additional 165,196 shares in the last quarter. Invesco Ltd. boosted its stake in Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company's stock valued at $107,975,000 after acquiring an additional 1,231,628 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sunrun by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company's stock valued at $104,220,000 after acquiring an additional 205,627 shares in the last quarter. Finally, Contour Asset Management LLC acquired a new position in Sunrun in the fourth quarter valued at $98,010,000. Institutional investors and hedge funds own 91.69% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Sunrun from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. Barclays cut their price objective on Sunrun from $23.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings lowered Sunrun from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Mizuho cut their price objective on Sunrun from $25.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, March 2nd. Finally, Jefferies Financial Group cut their price objective on Sunrun from $22.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, April 7th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.48.
Check Out Our Latest Report on RUN
About Sunrun
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
