Insider Selling: Lendingclub (NASDAQ:HAPN) CEO Sells $525,000.00 in Stock

Lendingclub Corp (NASDAQ:HAPN) CEO Scott Sanborn sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $21.00, for a total value of $525,000.00. Following the sale, the chief executive officer directly owned 1,536,063 shares in the company, valued at approximately $32,257,323. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Sanborn also recently made the following trade(s):

• On Wednesday, June 24th, Scott Sanborn sold 28,750 shares of Lendingclub stock. The stock was sold at an average price of $19.17, for a total value of $551,137.50.

Lendingclub Price Performance

Lendingclub stock traded down $0.85 during mid-day trading on Thursday, reaching $19.69. The company’s stock had a trading volume of 6,356,845 shares, compared to its average volume of 2,255,168. The company has a market cap of $2.27 billion, a PE ratio of 13.21 and a beta of 1.93. Lendingclub Corp has a twelve month low of $12.17 and a twelve month high of $21.67.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HAPN shares. BTIG Research lifted their price target on shares of Lendingclub from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings initiated coverage on shares of Lendingclub in a research note on Thursday, June 25th. They set a “hold (c+)” rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Lendingclub Company Profile

I couldn’t find enough reliable information about LendingClub with the ticker symbol NASDAQ:HAPN to write an accurate company description.