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SAN FRANCISCO—Danny Abajian, Chief Financial Officer of Sunrun Inc . (NASDAQ:RUN), recently sold shares of the company as disclosed in a filing with the Securities and Exchange Commission. The solar energy company, currently valued at $2 billion, has seen its stock display significant volatility, trading between $5.45 and $22.26 over the past 52 weeks. On June 6, Abajian sold 1,604 shares of Sunrun common stock at a weighted average price of $8.2307 per share, amounting to a total transaction value of $13,202.
The sale was conducted to cover tax obligations arising from the settlement of vested restricted stock units. Following this transaction, Abajian holds 458,100 shares directly, which include 450,250 restricted stock units subject to vesting conditions.
Additionally, the filing reported two transactions coded as gifts, involving a total of 2,394 shares transferred at no cost, which did not affect the overall value of Abajian’s holdings. These shares are held by the Abajian Family Trust, where Danny Abajian acts as a co-trustee. The company’s stock currently trades near InvestingPro’s Fair Value estimate, with three analysts recently revising their earnings expectations upward for the upcoming period.
In other recent news, Sunrun has been the focus of several analyst updates and legislative developments. GLJ Research upgraded Sunrun’s stock rating from Sell to Hold, influenced by potential favorable policy decisions as the Senate reconvenes, which could impact solar energy investments. UBS adjusted Sunrun’s price target to $12, maintaining a Buy rating, amid the passage of a U.S. House budget bill that could phase out critical tax credits for residential solar projects. Despite this, UBS remains optimistic about Sunrun’s strategy and underlying asset value. Jefferies also revised Sunrun’s price target to $6, keeping a Hold rating, as discussions around the Inflation Reduction Act continue, with potential impacts on residential leases. BMO Capital Markets downgraded Sunrun to Underperform, slashing the price target to $4, citing uncertainties around legislative changes that could affect solar tax credits. Meanwhile, Goldman Sachs raised Sunrun’s price target to $15, maintaining a Buy rating, due to improved valuation assumptions and potential policy relief. These developments reflect varying perspectives on Sunrun’s future amid changing legislative and market conditions.
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