Insider Selling: Happen Bank (NASDAQ:HAPN) General Counsel Sells $46,928.00 in Stock

Happen Bank (NASDAQ:HAPN) General Counsel Jordan Cheng sold 2,800 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $16.76, for a total transaction of $46,928.00. Following the completion of the sale, the general counsel directly owned 100,813 shares of the company’s stock, valued at $1,689,625.88. This trade represents a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 29th, Jordan Cheng sold 2,800 shares of Happen Bank stock. The shares were sold at an average price of $16.00, for a total transaction of $44,800.00.
• On Thursday, September 3rd, Jordan Cheng sold 2,800 shares of Happen Bank stock. The shares were sold at an average price of $17.56, for a total transaction of $49,168.00.

Happen Bank Stock Performance

Happen Bank stock traded down $0.22 during midday trading on Friday, hitting $15.96. 1,695,994 shares of the stock were exchanged, compared to its average volume of 2,762,823. Happen Bank has a 1 year low of $13.05 and a 1 year high of $21.67. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 8.70 and a beta of 1.61. The company has a 50 day simple moving average of $15.67.

Happen Bank (NASDAQ:HAPN) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $279.09 million during the quarter. Happen Bank had a net margin of 20.16% and a return on equity of 13.62%. Happen Bank’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Happen Bank will post 1.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Happen Bank

An institutional investor recently raised its position in Happen Bank stock. Russell Investments Group Ltd. lifted its stake in shares of Happen Bank (NASDAQ:HAPN) by 18.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 386,263 shares of the company’s stock after purchasing an additional 59,887 shares during the period. Russell Investments Group Ltd. owned about 0.34% of Happen Bank worth $5,709,000 as of its most recent filing with the SEC. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HAPN has been the subject of a number of recent analyst reports. BTIG Research restated a “buy” rating and set a $25.00 price objective on shares of Happen Bank in a research note on Tuesday, July 28th. Piper Sandler reduced their target price on Happen Bank from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Citizens Jmp raised their price target on shares of Happen Bank from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Happen Bank in a research report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Happen Bank Company Profile

Happen Bank, originally founded as LendingClub in 2006, is a digital bank primarily built for high-FICO, high-income borrowers that are actively managing their financial lives. The company offers products to make financial progress both fast and easy. Additionally, the company provides advanced credit underwriting, a proprietary technology platform, and a marketplace bank model intended to drive value for members, loan investors, and shareholders. Happen Bank is headquartered in San Fancisco, California.