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

Principal Financial Group Inc. lifted its stake in Sunrun Inc. (NASDAQ:RUN) by 33.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,460,949 shares of the energy company’s stock after acquiring an additional 367,835 shares during the period. Principal Financial Group Inc.’s holdings in Sunrun were worth $26,385,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares during the period. Blue Trust Inc. lifted its position in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Sunrun in the third quarter worth $44,000. Duncker Streett & Co. Inc. acquired a new stake in Sunrun during the second quarter worth $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Sunrun in the 2nd quarter valued at $45,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RUN. BNP Paribas lowered shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 target price on the stock. in a research report on Friday, November 8th. StockNews.com raised Sunrun to a “sell” rating in a report on Friday, December 20th. Glj Research reiterated a “sell” rating and issued a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Finally, Morgan Stanley lowered their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and a consensus price target of $19.21.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 2,624 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $42,902.40. Following the transaction, the insider now directly owns 305,636 shares of the company’s stock, valued at approximately $4,997,148.60. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary Powell sold 6,415 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.34, for a total transaction of $104,821.10. Following the sale, the chief executive officer now owns 569,368 shares of the company’s stock, valued at $9,303,473.12. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 169,691 shares of company stock valued at $2,011,601. 3.77% of the stock is currently owned by insiders.

Sunrun Trading Up 0.2 %

RUN stock opened at $10.12 on Wednesday. The business has a fifty day moving average of $11.76 and a 200-day moving average of $15.04. The company has a market cap of $2.27 billion, a P/E ratio of -5.56 and a beta of 2.54. Sunrun Inc. has a twelve month low of $9.01 and a twelve month high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

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.