Sunrun (NASDAQ:RUN) Trading Down 3.6% Following Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s stock price fell 3.6% on Tuesday following insider selling activity. The company traded as low as $6.46 and last traded at $6.33. 874,705 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 10,695,877 shares. The stock had previously closed at $6.57.

Specifically, CFO Danny Abajian sold 16,927 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the transaction, the chief financial officer now directly owns 231,279 shares of the company’s stock, valued at approximately $1,558,820.46. This trade represents a 6.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary Powell sold 31,197 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the transaction, the chief executive officer now owns 534,615 shares in the company, valued at approximately $3,603,305.10. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Jeanna Steele sold 9,942 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now directly owns 291,238 shares in the company, valued at approximately $1,962,944.12. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

RUN has been the topic of several recent research reports. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. TD Cowen lowered their price target on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Roth Capital set a $20.00 price objective on Sunrun in a research note on Friday, February 28th. Finally, Barclays reduced their price target on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and an average price target of $17.20.

Sunrun Stock Performance

The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.31 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $10.32.

Institutional Investors Weigh In On Sunrun

Several large investors have recently added to or reduced their stakes in RUN. GAMMA Investing LLC raised its position in Sunrun by 572.1% in the 1st quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company’s stock valued at $421,000 after purchasing an additional 61,198 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Sunrun in the fourth quarter worth approximately $94,000. Sylebra Capital LLC grew its holdings in Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after acquiring an additional 3,699,405 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Sunrun by 8.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock valued at $6,125,000 after purchasing an additional 52,176 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of Sunrun by 76.9% during the 4th quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock worth $187,000 after purchasing an additional 8,792 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.