Principal Financial Group Inc. Purchases 367,835 Shares of Sunrun Inc. (NASDAQ:RUN)

Principal Financial Group Inc. raised its position in shares of Sunrun Inc. (NASDAQ:RUN) by 33.7% in the third quarter, Holdings Channel reports. The firm owned 1,460,949 shares of the energy company’s stock after acquiring an additional 367,835 shares during the quarter. Principal Financial Group Inc.’s holdings in Sunrun were worth $26,385,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Sunrun by 14.0% during the first 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 in the last quarter. Greenvale Capital LLP boosted its holdings in shares of Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after acquiring an additional 2,000,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sunrun by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after acquiring an additional 729,633 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Sunrun by 0.6% during the third quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company’s stock valued at $56,402,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Sylebra Capital LLC bought a new position in Sunrun during the second quarter valued at approximately $35,387,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $9.74 on Wednesday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -5.35 and a beta of 2.61. The firm has a fifty day moving average price of $16.22 and a 200 day moving average price of $15.47. Sunrun Inc. has a fifty-two week low of $9.02 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66.

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the sale, the chief financial officer now directly owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Danny Abajian sold 9,694 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total transaction of $191,456.50. Following the completion of the transaction, the chief financial officer now directly owns 278,260 shares in the company, valued at approximately $5,495,635. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the completion of the sale, the director now owns 1,142,446 shares in the company, valued at $16,679,711.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,840 shares of company stock worth $2,755,487 in the last 90 days. 3.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley reissued an “overweight” rating and issued a $35.00 target price on shares of Sunrun in a research report on Tuesday, September 24th. Roth Mkm reduced their price target on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Truist Financial reissued a “hold” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.54.

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.