FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
SAN FRANCISCO—Mary Powell, the Chief Executive Officer of Sunrun Inc . (NASDAQ:RUN), recently sold 2,046 shares of the company’s common stock, according to a regulatory filing. The shares were sold to cover tax obligations arising from the settlement of vested restricted stock units. The transaction comes as Sunrun, currently valued at $1.6 billion, has seen its stock decline over 60% in the past six months. According to InvestingPro analysis, the stock is currently trading near Fair Value levels.
The transaction took place on March 6, with the shares sold at a weighted average price of $6.6463 per share, within a price range of $6.58 to $6.74. Following this transaction, Powell retains ownership of 565,812 shares, which includes 357,817 restricted stock units subject to vesting conditions. Analysts maintain a bullish outlook on the stock, with a consensus recommendation of "Buy" and multiple analysts revising earnings estimates upward for the upcoming period.
This sale is part of routine transactions that executives undertake for various personal and tax reasons. Investors often keep a close eye on such activities as they can provide insights into an executive’s perspective on the company’s stock. For deeper insights into Sunrun’s financial health and growth prospects, including 14 additional exclusive ProTips, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Sunrun Inc. reported its fourth-quarter 2024 earnings, significantly surpassing analysts’ expectations with an earnings per share (EPS) of $1.41 compared to the forecasted loss of $0.27. However, revenue came in below expectations at $518.5 million versus the forecasted $544.85 million. Despite the revenue miss, the company achieved positive cash generation for the third consecutive quarter, with a reported $34 million in cash generation during the fourth quarter. Deutsche Bank (ETR:DBKGn) reiterated its Buy rating for Sunrun, maintaining a price target of $10.50, acknowledging the company’s strategic financial steps and its ability to navigate industry challenges effectively. Meanwhile, Mizuho (NYSE:MFG) Securities adjusted its price target for Sunrun to $15.00 from the previous $18.00 but maintained an Outperform rating, citing the company’s strong position in energy storage and solar subscriptions. Sunrun’s strategic focus on storage-first solutions and high-value markets has positioned it as a leader, with storage attachment rates increasing significantly to 62%. Looking ahead, Sunrun projects cash generation between $200 million and $500 million for 2025, with plans to pay down $100 million in recourse debt. These developments underscore Sunrun’s commitment to financial discipline and strategic growth amidst a challenging macroeconomic environment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.