Sunrun’s chief legal & people officer sells $11,199 in stock

SAN FRANCISCO—Jeanna Steele, the Chief Legal & People Officer at Sunrun Inc . (NASDAQ:RUN), sold 1,686 shares of the company’s common stock on March 6, as reported in a recent SEC filing. The shares were sold at a weighted average price of $6.6425, resulting in a total transaction value of approximately $11,199.

This sale was conducted to cover tax obligations arising from the settlement of vested restricted stock units. Following the transaction, Steele holds 301,180 shares, which include 146,501 restricted stock units subject to vesting conditions.

In other recent news, Sunrun reported its fourth-quarter 2024 earnings, significantly exceeding expectations with an earnings per share of $1.41, compared to the anticipated loss of $0.27. However, the company’s revenue was slightly below expectations at $518.5 million. Sunrun has successfully generated positive cash flow for three consecutive quarters, totaling $34 million in the fourth quarter alone. Analysts at Deutsche Bank (ETR:DBKGn) maintained a Buy rating for Sunrun, setting a price target of $10.50, while Mizuho (NYSE:MFG) Securities adjusted its price target to $15.00, down from $18.00, but kept an Outperform rating.

Sunrun’s strategic moves include extending corporate debt maturities to 2030 and securing $7 billion in capital in 2024. The company also increased its Investment Tax Credit sales tax to around 40% in the fourth quarter. Sunrun’s leadership in the renewable energy sector is emphasized by its focus on energy storage and subscription-based solar services. The company’s expansion efforts have been bolstered by the bankruptcy of Sunpower, allowing Sunrun to grow its dealer network.

Looking forward, Sunrun anticipates cash generation between $200 million and $500 million in 2025, with plans to pay down $100 million in recourse debt. The company expects to maintain a 44% weighted average Investment Tax Credit level and aims for battery attachment rates to rise to approximately 66%. These developments underscore Sunrun’s commitment to financial discipline and strategic growth in the renewable energy market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.