Sunrun appoints new chief accounting officer

SAN FRANCISCO – Sunrun Inc . (NASDAQ:RUN), a leading player in the solar energy sector with a market capitalization of $1.79 billion and annual revenue of $2.04 billion, announced the appointment of Maria Barak as the company’s new Chief Accounting Officer, effective as of February 6, 2025. The company, which according to InvestingPro data is trading near its 52-week low, disclosed the executive change in a recent 8-K filing with the Securities and Exchange Commission.

Barak, 42, brings a wealth of experience to her new role at Sunrun, having joined the company in August 2017 as Director of Accounting, Strategic Partnerships. She subsequently rose to the position of VP, Corporate Controller in March 2023 before her current promotion. Her professional background includes a stint as an independent accounting professional, and earlier in her career, she worked with Deloitte & Touche.

Holding an MBA from the University of California, Berkeley, Haas School of Business, and a B.A. in Business Economics with an Accounting Emphasis from the University of California, Santa Barbara, Barak is also a Certified Public Accountant.

Danny Abajian, who served as the Principal Accounting Officer until Barak’s appointment, will continue in his role as the company’s Principal Financial (NASDAQ:PFG) Officer.

The company’s filing states that there are no familial relationships between Barak and any director, executive officer, or any person nominated to become one at Sunrun. Additionally, Barak does not have any direct or indirect material interest in any transaction that would require disclosure under the SEC’s Regulation S-K.

In her new role, Barak will be covered by Sunrun’s standard indemnification agreement and will participate in the company’s Key Employee Change in Control and Severance Plan, details of which are on file with the SEC.

Sunrun, headquartered in San Francisco, California, specializes in miscellaneous electrical machinery, equipment, and supplies. The company’s commitment to clean energy and sustainable business practices positions it as a significant player in the renewable energy industry, operating with a gross profit margin of 13.02%. This executive move is part of Sunrun’s ongoing efforts to strengthen its leadership team and ensure robust financial oversight as it continues to grow and innovate in the solar energy market. Investors anticipating the company’s next earnings release on February 27, 2025, can access comprehensive financial analysis and 18 additional key insights through InvestingPro’s detailed research reports.

In other recent news, Sunrun, a key player in the residential solar panel industry, has seen significant developments. BMO Capital Markets maintained its Market Perform rating and $11.00 price target for Sunrun, highlighting the company’s recent financial move of pricing $695 million of solar asset-backed securities (ABS) notes across four tranches. This move reflects Sunrun’s ability to secure funding at improved terms, potentially benefiting its financial flexibility and cost structure.

Jefferies analyst Julian Dumoulin-Smith adjusted the price target on Sunrun’s shares to $17.00, while maintaining a Buy rating. The analyst anticipates a robust quarter for Sunrun, with effective execution on cash generation targets. UBS analyst Jon Windham upgraded Sunrun stock from Neutral to Buy, raising the price target to $17.00, citing Sunrun’s significant growth in market share within California and the increasing deployment of battery storage in new projects.

Clear Street analysts maintained their Buy rating on Sunrun shares but reduced the price target to $23.00. Despite potential challenges posed by the uncertainty of clean energy tax credits, Clear Street sees strategic opportunities for Sunrun. Lastly, Sunrun announced a change in its board of directors with the departure of Gerald Risk, Audit Committee Chairperson, and the appointment of John Trinta as the new Audit Committee Chair. These are recent developments in Sunrun’s journey, shaping its financial and operational outlook.

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