First Solar, Inc.'s (NASDAQ: FSLR) chief financial officer, Alexander R. Bradley, completed a series of stock sales on March 16 and March 17, 2026, disposing of a total of 14,296 shares of common stock and realizing approximately $2.86 million from the transactions.
According to a Form 4 filed with the Securities and Exchange Commission, Bradley sold 590 shares on March 16 at a price of $200.80, producing proceeds of $118,472. The bulk of the activity took place on March 17, when Bradley sold multiple blocks of shares at a range of prices:
- 2,958 shares at prices between $198.23 and $199.22;
- 5,376 shares at prices between $199.23 and $200.22;
- 5,075 shares at prices between $200.23 and $201.17;
- 346 shares at prices between $201.23 and $202.21; and
- 351 shares at prices between $202.32 and $202.55.
Separately, the filing notes that Bradley received 1,441 shares on March 13 through the vesting of restricted stock units, which vested at no cost to him. After accounting for the sales and the vested shares, Bradley is recorded as directly owning 30,000 shares of First Solar common stock.
The March 17 sales were executed under a pre-arranged Rule 10b5-1 trading plan that Bradley adopted on November 6, 2025, the filing states. Such plans allow insiders to sell shares according to predetermined schedules and terms.
At the time of reporting, First Solar shares were trading at $200.42. The stock is down 23% year-to-date, even though it has posted a 57% gain over the past year. Analysis from InvestingPro cited in the filing indicates the stock is trading below its Fair Value and included First Solar on its Most Undervalued list.
Bradley’s transactions come in the wake of First Solar's fourth-quarter 2025 earnings release and the company's 2026 guidance, which prompted several analysts to revise ratings and price targets. Deutsche Bank reported that First Solar's earnings missed expectations by 6%, and the bank lowered its price target to $245 from $300 while moving its rating to Hold from Buy. The company’s revenue guidance for 2026, projected at $4.9 billion to $5.2 billion, was described as 17% below Street expectations and represented a 3% decline year-over-year.
GLJ Research also downgraded First Solar to Hold from Buy, citing material shortfalls in the company’s 2026 guidance across revenue, volumes, and EBITDA metrics. Other major firms took a mixed approach: Guggenheim kept a Buy rating but reduced its price target to $269 from $312; Barclays trimmed its price target to $228 from $279 while maintaining an Overweight rating; and Jefferies lowered its price target to $205 from $260 and stayed at Hold, noting limited visibility on the timing of any recovery.
These analyst moves reflect the divergence between First Solar’s recent share-price performance and the company’s current guidance and near-term financial outlook. The insider sale, executed in part via a 10b5-1 plan, and the adjustments from the sell-side underscore the market and analyst focus on First Solar’s ability to return to the growth trajectory implied by prior expectations.
Investors seeking additional valuation context and financial modeling for First Solar can consult the firm’s comprehensive Pro Research Report, which is available through InvestingPro for this and over 1,400 other U.S. equities, as noted in the filing.
Context and next steps
The SEC Form 4 documents the insider’s transactions and the existence of a pre-arranged trading plan; shareholders and market participants can use this filing to track insider disposition and holdings. Given the company's recent guidance and the range of analyst responses, market watchers may continue to monitor subsequent updates from First Solar and additional insider filings for further clarity on management’s view of near-term prospects.