In a recent transaction, Jeanna Steele, the Chief Legal & People Officer at Sunrun Inc . (NASDAQ:RUN), sold 10,176 shares of the company's common stock. The sale, which took place on April 8, 2024, fetched an average price of $12.0728 per share, totaling approximately $122,852. Prices ranged from $11.905 to $12.235 per share for the stock sold.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. According to the filing, the shares were sold primarily to cover tax obligations related to the settlement of vested restricted stock units, as noted in a footnote of the document.
On a separate note, Steele also acquired 86,686 restricted stock units (RSUs) at no cost on April 10, 2024. These RSUs are set to vest over time, with 25% vesting on April 6, 2025, and the remainder vesting quarterly thereafter, provided Steele continues her service with the company. However, the RSUs are subject to forfeiture until vested.
Following these transactions, Steele's direct ownership in Sunrun Inc. includes 315,429 shares, of which 179,447 are restricted stock units pending vesting conditions. This information is crucial for investors tracking insider transactions as an indicator of the executives' confidence in the company's prospects and financial health.
InvestingPro Insights
As Sunrun Inc. (NASDAQ:RUN) navigates the complexities of the renewable energy market, recent financial metrics and analyst insights from InvestingPro provide a clearer picture of the company's current standing. With a market capitalization of $2.7 billion, Sunrun's valuation reflects the competitive and dynamic nature of the industry. Notably, the company's Price / Book ratio as of the last twelve months ending Q4 2023 stands at 0.52, indicating that the stock is trading at a low multiple of its book value. This could suggest that the stock is undervalued relative to the company's assets, which may attract investors looking for potential bargains.
However, the financial health of Sunrun poses concerns as highlighted by two critical InvestingPro Tips. The company operates with a significant debt burden and may have trouble making interest payments on its debt. This is particularly relevant given the company's negative P/E ratio of -2.76, signaling that it has not been profitable over the last twelve months as of Q4 2023. Additionally, Sunrun's stock is known to exhibit high price volatility, a factor that investors should consider when evaluating the risk associated with the stock.
Investors seeking a deeper dive into Sunrun's financials and future outlook can find additional insights on InvestingPro. There are currently 6 more InvestingPro Tips available, which provide a comprehensive analysis of the company's performance and projections. For those looking to access these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
To conclude, while insider transactions such as those by Jeanna Steele may offer a glimpse into the company's internal dynamics, it's essential for investors to consider the broader financial context provided by InvestingPro when making investment decisions.
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