SAN FRANCISCO—Paul S. Dickson, President and Chief Revenue Officer of Sunrun Inc . (NASDAQ:RUN), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Dickson sold 2,968 shares of Sunrun stock on January 6, 2025, at a weighted average price of $11.1776 per share, totaling approximately $33,175. The transaction comes as Sunrun's stock has shown significant volatility, with InvestingPro data showing an 18.6% gain in the past week despite a 32% decline over the past year.
The sale was conducted to cover tax obligations arising from the settlement of vested restricted stock units. Following this transaction, Dickson retains ownership of 418,492 shares, which includes 266,773 restricted stock units that remain subject to forfeiture until they vest.
Sunrun Inc., based in San Francisco, is a leading provider of residential solar energy systems.
In other recent news, Sunrun has been the subject of several significant developments. The company demonstrated robust performance in its third-quarter results, achieving a milestone of 1 million customers and a record number of storage installations. Sunrun's annual recurring revenue surpassed $1.5 billion, marking a 22% increase from the previous year, and installed 336 megawatt hours of storage, a 92% increase over the prior year.
Looking forward, Sunrun projects a cash generation of $50 to $125 million in the next quarter and $350 to $600 million in 2025. The company also anticipates installing 320 to 350 megawatt-hours of storage and 240 to 250 megawatts of solar capacity. In addition, Sunrun announced a reshuffling of its board of directors with the departure of Gerald Risk, and John Trinta has been appointed as the new Audit Committee Chair.
Analyst adjustments have seen TD (TSX:TD) Cowen initiate coverage on Sunrun with a Buy rating, while Piper Sandler, Truist Securities, and BMO (TSX:BMO) Capital Markets have revised their stance on the company, citing concerns about cash generation capabilities and policy risks. Clear Street has also adjusted its price target for Sunrun, reflecting a cautious but optimistic view of the company's prospects amid external uncertainties. These are among the recent developments for Sunrun.
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