Insider Selling: Sunrun Inc. (NASDAQ:RUN) Insider Sells 868 Shares of Stock

Posted by John. R. Edwardson on Mar 18th, 2023

Sunrun Inc. (NASDAQ:RUN – Get Rating) insider Jeanna Steele sold 868 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $19.07, for a total transaction of $16,552.76. Following the completion of the transaction, the insider now owns 172,855 shares in the company, valued at $3,296,344.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Jeanna Steele also recently made the following trade(s):

On Friday, March 17th, Jeanna Steele sold 856 shares of Sunrun stock. The shares were sold at an average price of $17.72, for a total transaction of $15,168.32.
On Monday, March 6th, Jeanna Steele sold 14,723 shares of Sunrun stock. The stock was sold at an average price of $25.51, for a total value of $375,583.73.
On Monday, December 19th, Jeanna Steele sold 839 shares of Sunrun stock. The shares were sold at an average price of $27.71, for a total value of $23,248.69.

Sunrun Trading Down 8.9 %

NASDAQ:RUN traded down $1.69 during mid-day trading on Friday, hitting $17.32. 23,645,213 shares of the company’s stock were exchanged, compared to its average volume of 8,472,744. The company has a 50 day simple moving average of $24.49 and a 200-day simple moving average of $27.01. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. Sunrun Inc. has a fifty-two week low of $16.69 and a fifty-two week high of $39.13. The firm has a market capitalization of $3.71 billion, a P/E ratio of 22.49 and a beta of 2.30.

Sunrun (NASDAQ:RUN – Get Rating) last posted its earnings results on Wednesday, February 22nd. The energy company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.03 by $0.26. Sunrun had a net margin of 7.47% and a return on equity of 2.37%. The business had revenue of $609.20 million for the quarter, compared to the consensus estimate of $588.89 million. During the same period last year, the company earned ($0.11) EPS. The firm’s revenue was up 40.0% compared to the same quarter last year. As a group, research analysts expect that Sunrun Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RUN shares. TheStreet raised shares of Sunrun from a “d+” rating to a “c-” rating in a research report on Thursday, January 12th. Scotiabank started coverage on shares of Sunrun in a report on Thursday, March 2nd. They set a “sector outperform” rating and a $40.00 price target for the company. Citigroup assumed coverage on shares of Sunrun in a research note on Thursday, March 9th. They issued a “neutral” rating and a $27.00 price objective on the stock. Truist Financial cut their target price on Sunrun from $52.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, February 21st. Finally, Morgan Stanley decreased their price target on Sunrun from $72.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.89.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Sunrun by 28.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 43,664 shares of the energy company’s stock worth $1,020,000 after purchasing an additional 9,549 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $17,270,000. Pathstone Family Office LLC lifted its position in shares of Sunrun by 24.0% in the 3rd quarter. Pathstone Family Office LLC now owns 50,137 shares of the energy company’s stock worth $1,383,000 after purchasing an additional 9,710 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $179,000. Finally, AlphaCrest Capital Management LLC lifted its position in shares of Sunrun by 132.1% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 50,001 shares of the energy company’s stock worth $1,380,000 after purchasing an additional 28,456 shares during the period. 86.21% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Company Profile

(Get Rating)

Sunrun, Inc engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.