Lendingclub (NASDAQ:HAPN) General Counsel Sells 2,800 Shares of Company Stock

Lendingclub Corp (NASDAQ:HAPN) General Counsel Jordan Cheng sold 2,800 shares of Lendingclub stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $16.00, for a total transaction of $44,800.00. Following the completion of the sale, the general counsel directly owned 103,613 shares in the company, valued at $1,657,808. This trade represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jordan Cheng also recently made the following trade(s):

• On Thursday, September 3rd, Jordan Cheng sold 2,800 shares of Lendingclub stock. The stock was sold at an average price of $17.56, for a total transaction of $49,168.00.

Lendingclub Price Performance

Shares of NASDAQ:HAPN traded down $0.51 during trading on Friday, reaching $15.53. The company had a trading volume of 2,448,040 shares, compared to its average volume of 2,061,914. The company has a fifty day moving average price of $15.95. Lendingclub Corp has a 12 month low of $13.05 and a 12 month high of $21.67. The stock has a market cap of $1.79 billion, a PE ratio of 8.68 and a beta of 1.88.

Lendingclub (NASDAQ:HAPN) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $279.09 million during the quarter. Lendingclub had a net margin of 20.16% and a return on equity of 13.76%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that Lendingclub Corp will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HAPN shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lendingclub in a report on Tuesday, September 22nd. Piper Sandler lowered their target price on Lendingclub from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday. BTIG Research reiterated a “buy” rating and issued a $25.00 target price on shares of Lendingclub in a report on Tuesday, July 28th. Finally, Citizens Jmp increased their price target on Lendingclub from $23.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Lendingclub currently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Lendingclub Company Profile

LendingClub Corporation is a U.S.-based financial technology company that operates a digital banking and lending platform. The company connects consumers seeking credit with funding sources and provides personal loans, debt-consolidation loans, auto-refinancing loans and other consumer credit products through its online platform.

Following its acquisition of Radius Bancorp in 2020, LendingClub also operates as a bank holding company through LendingClub Bank, National Association. Its banking operations support consumer and commercial lending, as well as deposit products designed to provide funding for loans and other banking activities.

Founded in 2006, LendingClub primarily serves customers in the United States.