Drive Wealth Management LLC Has $782,000 Holdings in Sunrun Inc. (NASDAQ:RUN)

Drive Wealth Management LLC raised its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 4.5% in the third quarter, Holdings Channel.com reports. The firm owned 43,327 shares of the energy company’s stock after buying an additional 1,884 shares during the period. Drive Wealth Management LLC’s holdings in Sunrun were worth $782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after purchasing an additional 367,835 shares during the last quarter. Symmetry Investments LP purchased a new position in shares of Sunrun in the 2nd quarter worth approximately $1,205,000. Aigen Investment Management LP bought a new position in Sunrun in the 3rd quarter valued at $955,000. Axxcess Wealth Management LLC purchased a new stake in Sunrun during the first quarter worth about $171,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Sunrun by 207.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock valued at $24,843,000 after acquiring an additional 927,947 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RUN has been the subject of several research reports. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Truist Financial reissued a “hold” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. BNP Paribas downgraded shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Friday, November 8th. Susquehanna reduced their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group dropped their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.12.

Sunrun Trading Down 9.3 %

NASDAQ RUN opened at $9.89 on Monday. The stock has a 50-day moving average of $15.70 and a 200-day moving average of $15.47. 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 1-year low of $9.23 and a 1-year high of $22.26. The firm has a market cap of $2.22 billion, a PE ratio of -5.43 and a beta of 2.61.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total value of $40,360.92. Following the sale, the chief executive officer now directly owns 579,193 shares of the company’s stock, valued at $10,883,036.47. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Michelle Jurich sold 1,937 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $35,311.51. Following the transaction, the director now directly owns 1,242,446 shares of the company’s stock, valued at $22,649,790.58. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,795 shares of company stock worth $2,574,225. 3.77% of the stock is currently owned by insiders.

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.