Lendingclub (NASDAQ:HAPN) Announces Quarterly Earnings Results

Lendingclub (NASDAQ:HAPN) issued its quarterly earnings results on Monday. The company reported $0.50 earnings per share for the quarter, FiscalAI reports. The company had revenue of $262.86 million for the quarter. Lendingclub had a return on equity of 11.92% and a net margin of 16.99%.

Lendingclub Price Performance

NASDAQ:HAPN traded up $0.69 during trading hours on Monday, hitting $18.75. The company’s stock had a trading volume of 4,130,077 shares, compared to its average volume of 2,173,927. Lendingclub has a 52-week low of $12.84 and a 52-week high of $21.67. The firm has a market capitalization of $2.17 billion, a PE ratio of 12.58 and a beta of 1.93.

Insiders Place Their Bets

In other news, SVP Fergal Stack sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $21.01, for a total value of $1,050,500.00. Following the transaction, the senior vice president owned 154,977 shares in the company, valued at approximately $3,256,066.77. This represents a 24.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Sanborn sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was 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 $32,257,323. This trade represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,250 shares of company stock valued at $2,241,312 in the last ninety days. Insiders own 3.31% of the company’s stock.

Analyst Upgrades and Downgrades

HAPN has been the subject of a number of analyst reports. BTIG Research boosted their price objective on Lendingclub from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Weiss Ratings assumed coverage on shares of Lendingclub in a report on Thursday, June 25th. They issued 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.