Insider Selling: Sunrun (NASDAQ:RUN) CRO Sells $205,779.34 in Stock

Sunrun Inc. (NASDAQ:RUN) CRO Paul Dickson sold 15,613 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.18, for a total value of $205,779.34. Following the sale, the executive owned 839,539 shares of the company’s stock, valued at approximately $11,065,124.02. This represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Stock Down 5.9%

RUN stock traded down $0.77 on Tuesday, hitting $12.20. 14,385,861 shares of the company’s stock were exchanged, compared to its average volume of 9,647,533. Sunrun Inc. has a 12-month low of $9.01 and a 12-month high of $22.44. The firm has a 50 day moving average price of $13.69 and a two-hundred day moving average price of $15.40. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The stock has a market cap of $2.91 billion, a P/E ratio of 5.73 and a beta of 2.32.

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

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Contour Asset Management LLC purchased a new position in Sunrun during the 4th quarter worth approximately $98,010,000. Norges Bank purchased a new stake in shares of Sunrun in the 4th quarter valued at $62,169,000. Voloridge Investment Management LLC purchased a new stake in shares of Sunrun in the 3rd quarter valued at $40,193,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Sunrun in the third quarter worth $21,427,000. Finally, Invesco Ltd. increased its stake in shares of Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after acquiring an additional 1,231,628 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RUN shares. JPMorgan Chase & Co. lowered their target price on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Glj Research restated a “sell” rating on shares of Sunrun in a research note on Wednesday, June 24th. Barclays decreased their price target on shares of Sunrun from $23.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. UBS Group lowered their price objective on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $18.00 price objective on shares of Sunrun in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Hold” and an average target price of $18.87.

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.