Sunrun (NASDAQ:RUN) Shares Gap Down Following Insider Selling

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $11.37, but opened at $10.90. Sunrun shares last traded at $10.56, with a volume of 1,218,586 shares.

Specifically, CFO Danny Abajian sold 3,734 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the transaction, the chief financial officer now owns 257,969 shares of the company's stock, valued at approximately $2,884,093.42. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Paul S. Dickson sold 2,968 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the transaction, the executive now directly owns 418,492 shares in the company, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In other news, CEO Mary Powell sold 4,350 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RUN shares. StockNews.com upgraded shares of Sunrun to a "sell" rating in a report on Friday, December 20th. BMO Capital Markets cut their target price on Sunrun from $20.00 to $11.00 and set a "market perform" rating on the stock in a research report on Monday, November 11th. Barclays decreased their price target on Sunrun from $19.00 to $18.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 16th. Jefferies Financial Group cut their price objective on Sunrun from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their target price on shares of Sunrun from $15.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $19.16.

Sunrun Stock Performance

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 company has a market capitalization of $2.41 billion, a P/E ratio of -5.91 and a beta of 2.58. The firm has a 50 day moving average price of $10.86 and a two-hundred day moving average price of $14.78.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Natixis Advisors LLC acquired a new stake in shares of Sunrun in the second quarter valued at approximately $314,000. Rhumbline Advisers lifted its stake in shares of Sunrun by 25.3% during the second quarter. Rhumbline Advisers now owns 758,512 shares of the energy company's stock valued at $8,996,000 after acquiring an additional 153,007 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Sunrun by 1.5% during the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company's stock valued at $538,000 after acquiring an additional 691 shares during the period. Arizona State Retirement System boosted its holdings in Sunrun by 2.7% in the second quarter. Arizona State Retirement System now owns 61,475 shares of the energy company's stock valued at $729,000 after acquiring an additional 1,597 shares during the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in Sunrun during the 2nd quarter worth about $145,000. Institutional investors own 91.69% of the company's stock.

Sunrun Company Profile

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.