Sunrun Inc . (NASDAQ:RUN) Chief Financial Officer Danny Abajian has sold 17,440 shares of the company's common stock on April 8, 2024, for a total value of approximately $210,547, with individual shares sold at prices ranging from $11.905 to $12.235. The transaction was part of a sale to cover tax obligations related to the settlement of vested restricted stock units.
Following this sale, Abajian's direct holdings in Sunrun Inc. decreased to 163,734 shares of common stock. Additionally, on the same day, there were transactions coded as gifts involving 17,671 shares that did not affect the CFO's economic interest in the company, as they were related to the Abajian Family Trust, of which he is a co-trustee.
In a separate transaction two days later, on April 10, Abajian acquired 144,477 shares in the form of restricted stock units. These units are scheduled to vest starting April 6, 2025, with 25% vesting on that date and the remainder vesting quarterly, contingent upon continued service.
Investors tracking insider transactions of Sunrun Inc. may consider these recent moves by the CFO as part of their analysis. It's noteworthy that after the reported transactions, Abajian's total holdings include 288,678 restricted stock units, which will vest over time and are currently subject to forfeiture.
InvestingPro Insights
As Sunrun Inc. (NASDAQ:RUN) navigates through its financial journey, the recent insider transactions by CFO Danny Abajian have caught the eye of market watchers. To complement the story, let's delve into the financial health of the company with some real-time data and InvestingPro Tips.
With a market capitalization of $2.7 billion, Sunrun is a significant player in the renewable energy sector. However, the company's financial metrics indicate challenges ahead. The Price / Book ratio for the last twelve months as of Q4 2023 stands at 0.52, suggesting that the stock may be undervalued relative to the company's book value. This aligns with one of the InvestingPro Tips, which notes that Sunrun is trading at a low Price / Book multiple.
Despite a negative revenue growth of -2.65% over the last twelve months as of Q4 2023, the company's gross profit margin during the same period was 7.22%. This could raise concerns about the company's profitability, especially since another InvestingPro Tip warns that Sunrun operates with a significant debt burden and may have trouble making interest payments on its debt.
Moreover, the stock price has experienced a notable decline, with a 3-month price total return of -24.67%. This volatility is reflected in the InvestingPro Tips, which mention that the stock generally trades with high price volatility and that the stock price movements are quite volatile.
For a more comprehensive understanding of Sunrun's financial outlook and to access additional insights, investors can explore InvestingPro, which lists 13 additional tips for the company. Using the exclusive coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This could be an invaluable resource for those looking to make informed decisions on their investments in Sunrun Inc.
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