Prudential Financial Inc. Decreases Holdings in Sunrun Inc. (NASDAQ:RUN)

Prudential Financial Inc. reduced its position in Sunrun Inc. (NASDAQ:RUN) by 11.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 229,390 shares of the energy company’s stock after selling 30,484 shares during the period. Prudential Financial Inc.’s holdings in Sunrun were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RUN. Newbridge Financial Services Group Inc. lifted its holdings in Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after acquiring an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Sunrun in the 3rd quarter worth approximately $44,000. Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun in the fourth quarter worth approximately $56,000. Wealth Enhancement Advisory Services LLC bought a new stake in Sunrun during the fourth quarter valued at approximately $94,000. Finally, Alterna Wealth Management Inc. purchased a new stake in Sunrun during the fourth quarter valued at approximately $96,000. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the sale, the executive now directly owns 418,492 shares in the company, valued at $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward Harris Fenster bought 150,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the acquisition, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 121,466 shares of company stock worth $1,136,397. 3.77% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RUN shares. Roth Capital set a $20.00 price target on shares of Sunrun in a research note on Friday, February 28th. TD Cowen lowered their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. BMO Capital Markets reduced their price target on Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research report on Monday, March 3rd. Truist Financial reaffirmed a “hold” rating and set a $9.00 price objective (down from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. Finally, Royal Bank of Canada reduced their target price on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen 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 price target of $17.20.

Sunrun Price Performance

Shares of Sunrun stock opened at $6.99 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 12 month low of $5.55 and a 12 month high of $22.26. The stock has a 50 day moving average of $7.61 and a 200 day moving average of $10.87. The firm has a market cap of $1.58 billion, a PE ratio of -3.84 and a beta of 2.74.

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.