Principal Financial Group Inc. Has $10.06 Million Stake in Sunrun Inc. (NASDAQ:RUN)

Principal Financial Group Inc. decreased its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 25.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,087,682 shares of the energy company’s stock after selling 373,267 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Sunrun worth $10,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RUN. Erste Asset Management GmbH bought a new stake in Sunrun during the third quarter worth $76,152,000. FMR LLC raised its position in Sunrun by 83.6% during the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after acquiring an additional 1,562,163 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Sunrun by 113.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after acquiring an additional 1,337,302 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Sunrun by 36.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company’s stock worth $17,367,000 after acquiring an additional 501,918 shares in the last quarter. Finally, Sora Investors LLC bought a new stake in Sunrun during the third quarter worth $8,127,000. 91.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the sale, the director now directly owns 941,753 shares in the company, valued at approximately $8,569,952.30. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Paul S. Dickson sold 2,968 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the sale, the executive now owns 418,492 shares in the company, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,830 shares of company stock worth $1,572,147 over the last ninety days. Corporate insiders own 3.77% of the company’s stock.

Sunrun Trading Down 8.3 %

Shares of Sunrun stock opened at $7.25 on Friday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -3.98 and a beta of 2.59. 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 Inc. has a 12-month low of $6.99 and a 12-month high of $22.26. The firm’s 50-day moving average price is $9.33 and its two-hundred day moving average price is $13.19.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RUN shares. BNP Paribas raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target on the stock in a research report on Tuesday, January 7th. UBS Group raised shares of Sunrun from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research report on Friday, January 10th. Truist Financial reissued a “hold” rating and issued a $12.00 price objective (down from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Finally, Barclays dropped their price objective on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.01.

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.