Danny Abajian Sells 2,092 Shares of Sunrun Inc. (NASDAQ:RUN) Stock

Sunrun Inc. (NASDAQ:RUNGet Free Report) CFO Danny Abajian sold 2,092 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $14.43, for a total transaction of $30,187.56. Following the completion of the sale, the chief financial officer now owns 288,448 shares in the company, valued at approximately $4,162,304.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, April 8th, Danny Abajian sold 17,440 shares of Sunrun stock. The stock was sold at an average price of $12.07, for a total transaction of $210,500.80.
  • On Monday, March 18th, Danny Abajian sold 402 shares of Sunrun stock. The stock was sold at an average price of $10.03, for a total transaction of $4,032.06.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $13.45 on Friday. The firm’s 50-day simple moving average is $11.98 and its 200 day simple moving average is $13.54. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $23.85.

Sunrun (NASDAQ:RUNGet Free Report) last released its earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $458.20 million for the quarter, compared to the consensus estimate of $471.38 million. During the same period in the prior year, the company posted ($1.12) EPS. The company’s revenue was down 22.3% compared to the same quarter last year. Research analysts predict that Sunrun Inc. will post -1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after purchasing an additional 2,743,148 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Sunrun by 35.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock valued at $178,127,000 after purchasing an additional 3,748,696 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Sunrun by 3.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,593,210 shares of the energy company’s stock valued at $133,051,000 after purchasing an additional 324,272 shares during the period. Greenvale Capital LLP lifted its position in Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after purchasing an additional 1,100,000 shares during the period. Finally, Invesco Ltd. lifted its position in Sunrun by 6.2% during the 3rd quarter. Invesco Ltd. now owns 7,137,991 shares of the energy company’s stock valued at $89,653,000 after purchasing an additional 416,747 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RUN shares. BMO Capital Markets raised their price objective on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Piper Sandler decreased their price target on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and set a $19.00 price target on shares of Sunrun in a research note on Thursday, February 22nd. Jefferies Financial Group decreased their price target on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Truist Financial reiterated a “hold” rating and set a $14.00 price target (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.21.

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About Sunrun

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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.

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