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SAN FRANCISCO—Sunrun Inc.’s (NASDAQ:RUN) Chief Financial Officer, Danny Abajian, recently sold a portion of his holdings in the company amid challenging market conditions. The stock has declined 27% year-to-date and is trading near its 52-week low of $5.93. According to a recent SEC filing, Abajian sold 4,292 shares of Sunrun’s common stock on March 3, 2025, at an average price of approximately $6.36 per share. This transaction amounted to a total value of $27,288.
The sale was reportedly made to cover tax obligations arising from the settlement of vested restricted stock units. Following this transaction, Abajian directly owns 258,465 shares of Sunrun.
In addition to the sale, the report also noted that Abajian acquired 10,554 shares at no cost on February 28, 2025. These shares were granted as performance-based restricted stock units, which vested after meeting specific performance criteria set by the company’s board of directors.
As of the latest filing, Abajian holds a total of 252,203 shares directly, with additional shares held indirectly through the Abajian Family Trust.
In other recent news, Sunrun reported its fourth-quarter 2024 earnings, significantly exceeding analysts’ expectations with an earnings per share (EPS) of $1.41, compared to a forecasted loss of $0.27. However, revenue was slightly below expectations at $518.5 million against the projected $544.85 million. Deutsche Bank (ETR:DBKGn) has maintained a Buy rating on Sunrun, citing the company’s effective navigation of industry challenges and its strategic financial decisions, such as extending corporate debt maturities to 2030. Mizuho (NYSE:MFG) Securities, while lowering its price target for Sunrun from $18.00 to $15.00, continues to rate the stock as Outperform, acknowledging the company’s dominant position in the energy storage and solar subscriptions market.
Sunrun achieved positive cash generation for the third consecutive quarter, generating $34 million in cash during the fourth quarter, which included an $18 million safe-harbor purchase. The company has expanded its customer base to 1 million, including 889,000 subscribers, and increased its annual recurring revenue by 23% year-over-year to over $1.6 billion. Sunrun’s storage attachment rates have also risen significantly to 62%, indicating strong growth in its storage solutions. Analysts from Deutsche Bank and Mizuho Securities have noted Sunrun’s strategic advantage in the industry, with potential benefits from higher tax credits and an attractive valuation. As Sunrun continues to face macroeconomic pressures and competitive challenges, the market will closely watch its performance and strategic initiatives in the coming quarters.
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