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

Sunrun Inc. (NASDAQ:RUN - Get Free Report) traded down 3.6% during mid-day trading 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 business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $114,087.98. Following the sale, the chief financial officer now owns 231,279 shares of the company's stock, valued at $1,558,820.46. The trade was a 6.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary Powell sold 31,197 shares of Sunrun stock in a transaction 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 transaction, the chief executive officer now directly owns 534,615 shares of the company's stock, valued at approximately $3,603,305.10. The trade was a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Jeanna Steele sold 9,942 shares of the company'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 $67,009.08. Following the sale, the insider now owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RUN shares. Barclays cut their price objective on Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price target on shares of Sunrun from $22.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets lowered their price objective on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company reduced their target price on shares of Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada lowered their price target on shares of Sunrun from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.20.

Sunrun Trading Up 4.3 %

The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.46 and a beta of 2.74. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The business's fifty day moving average is $7.17 and its 200 day moving average is $10.24.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in Sunrun by 0.6% in the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company's stock valued at $165,424,000 after buying an additional 54,329 shares during the last quarter. MML Investors Services LLC boosted its holdings in Sunrun by 9.3% during the third quarter. MML Investors Services LLC now owns 43,313 shares of the energy company's stock worth $782,000 after purchasing an additional 3,689 shares during the last quarter. Geode Capital Management LLC grew its position in Sunrun by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company's stock valued at $96,019,000 after purchasing an additional 30,549 shares in the last quarter. TCW Group Inc. acquired a new stake in Sunrun in the 3rd quarter valued at $218,000. Finally, Virtu Financial LLC bought a new stake in Sunrun during the 3rd quarter worth about $482,000. Institutional investors and hedge funds 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.