Principal Financial Group Inc. lowered its stake in shares of Sunrun Inc. (NASDAQ:RUN – Free Report) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 796,989 shares of the energy company’s stock after selling 3,683 shares during the quarter. Principal Financial Group Inc. owned approximately 0.37% of Sunrun worth $15,645,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Sunrun by 0.7% during the third quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock worth $243,728,000 after purchasing an additional 126,321 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Sunrun by 35.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock valued at $178,127,000 after acquiring an additional 3,748,696 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Sunrun by 3.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,593,210 shares of the energy company’s stock valued at $133,051,000 after acquiring an additional 324,272 shares during the period. Invesco Ltd. increased its holdings in shares of Sunrun by 6.2% in the 3rd quarter. Invesco Ltd. now owns 7,137,991 shares of the energy company’s stock valued at $89,653,000 after acquiring an additional 416,747 shares during the period. Finally, Robeco Schweiz AG increased its holdings in shares of Sunrun by 35.8% in the 3rd quarter. Robeco Schweiz AG now owns 3,581,300 shares of the energy company’s stock valued at $44,981,000 after acquiring an additional 945,000 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.
Insider Activity at Sunrun
In other news, Director Alan Ferber bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $9.73 per share, with a total value of $97,300.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $97,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Alan Ferber acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $9.73 per share, with a total value of $97,300.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $97,300. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mary Powell sold 5,424 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $65,738.88. Following the transaction, the chief executive officer now directly owns 411,628 shares of the company’s stock, valued at approximately $4,988,931.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,760 shares of company stock valued at $3,615,990. 3.76% of the stock is owned by insiders.
Sunrun Price Performance
Sunrun stock opened at $11.99 on Friday. Sunrun Inc. has a 52 week low of $8.43 and a 52 week high of $23.85. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The firm’s 50-day simple moving average is $11.44 and its 200 day simple moving average is $13.30.Sunrun (NASDAQ:RUN – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The business had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. During the same period in the previous year, the firm earned ($1.12) EPS. The business’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities analysts predict that Sunrun Inc. will post -1.83 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their target price on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, February 22nd. The Goldman Sachs Group lifted their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Mizuho lowered their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Truist Financial reiterated a “hold” rating and issued a $14.00 price objective (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $19.00 price objective on shares of Sunrun in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.21.
Sunrun 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.
See Also
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Sunrun Inc. (NASDAQ:RUN) Shares Sold by Principal Financial Group Inc. - Defense World
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