Sunrun Inc. $RUN Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Sunrun Inc. (NASDAQ:RUN) by 10.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,127,533 shares of the energy company’s stock after selling 134,860 shares during the period. Principal Financial Group Inc.’s holdings in Sunrun were worth $15,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RUN. Farther Finance Advisors LLC increased its stake in Sunrun by 156.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Sunrun during the fourth quarter worth $27,000. Hantz Financial Services Inc. grew its holdings in Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after purchasing an additional 564 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Sunrun in the fourth quarter valued at $30,000. Finally, Salomon & Ludwin LLC increased its position in shares of Sunrun by 49.2% in the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock valued at $31,000 after buying an additional 558 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RUN shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $17.00 price target on shares of Sunrun in a research note on Friday, May 8th. Jefferies Financial Group dropped their target price on shares of Sunrun from $22.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Zacks Research cut shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Glj Research reaffirmed a “sell” rating and issued a $4.63 price target on shares of Sunrun in a report on Friday, July 10th. Finally, Wall Street Zen lowered shares of Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.81.

Insider Buying and Selling at Sunrun

In related news, CRO Paul S. Dickson sold 15,613 shares of Sunrun stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.18, for a total value of $205,779.34. Following the transaction, the executive owned 839,539 shares in the company, valued at approximately $11,065,124.02. This trade represents a 1.83% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,495 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $217,569.05. Following the sale, the chief financial officer directly owned 420,318 shares of the company’s stock, valued at approximately $5,543,994.42. This trade represents a 3.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 223,045 shares of company stock worth $3,081,335. 3.55% of the stock is currently owned by company insiders.

Sunrun Price Performance

Sunrun stock opened at $10.38 on Friday. Sunrun Inc. has a 1 year low of $9.01 and a 1 year high of $22.44. The firm has a 50 day moving average price of $13.28 and a 200 day moving average price of $14.74. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 4.87 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. The company had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. Sunrun’s revenue was up 43.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. Sell-side analysts predict that Sunrun Inc. will post 1.01 earnings per share for the current year.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.