Sunrun Inc . (NASDAQ:RUN) Chief Legal & People Officer Jeanna Steele sold shares in the company, according to a recent SEC filing. On March 18, Steele offloaded 805 shares of common stock, a transaction that amounted to a little over $8,000.
The sale was executed at an average price of $10.015 per share, with individual sales prices ranging from $10.015 to $10.0301. The transaction was part of a tax obligation strategy related to the settlement of vested restricted stock units, as indicated by the footnotes in the SEC filing.
Following the sale, Steele still holds a substantial number of shares in the company. The post-transaction amount includes 113,250 restricted stock units, which are subject to vesting conditions.
Investors often monitor insider transactions as they may provide insights into the company's performance and insider perspectives on the stock's value. For Jeanna Steele, this transaction adjusted her stake in the company, yet she remains significantly invested through her restricted stock units, reflecting a continued tie to Sunrun's future.
InvestingPro Insights
As Sunrun Inc.'s (NASDAQ:RUN) Chief Legal & People Officer Jeanna Steele alters her stake in the company, investors looking for a deeper financial understanding can turn to InvestingPro for a comprehensive analysis. The InvestingPro Data paints a picture of a company that is trading at a low Price / Book multiple of 0.44 as of the last twelve months ending Q4 2023, suggesting that the market may be undervaluing the company's net asset value.
With a market capitalization of approximately $2.28 billion, Sunrun's financial health is a critical factor for investors to consider. The company's significant debt burden, as indicated by an InvestingPro Tip, could be a concern given its recent revenue decline of 2.65% over the last twelve months as of Q4 2023. Moreover, another InvestingPro Tip highlights the company's weak gross profit margins, which stood at 7.22% in the same period, potentially affecting its ability to turn revenues into profits.
Despite these challenges, the stock has experienced a 4.21% price total return over the past week, showing some signs of recovery. However, with analysts not anticipating profitability this year and six analysts having revised their earnings downwards for the upcoming period, potential investors should consider the volatility and future prospects of the company carefully. For those seeking further insights, InvestingPro offers additional tips on Sunrun Inc., which can be accessed at https://www.investing.com/pro/RUN. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the full range of 14 additional InvestingPro Tips that can help guide your investment decisions.
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