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 firm’s stock in a transaction dated 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 owned 100,813 shares of the company’s stock, valued at $1,689,625.88. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, October 29th, Jordan Cheng sold 2,800 shares of Happen Bank stock. The stock was sold at an average price of $16.00, for a total value of $44,800.00.
• On Thursday, September 3rd, Jordan Cheng sold 2,800 shares of Happen Bank stock. The stock was sold at an average price of $17.56, for a total value of $49,168.00.

Happen Bank Stock Performance

Shares of NASDAQ HAPN opened at $15.96 on Monday. The stock’s 50 day simple moving average is $15.67. The firm has a market capitalization of $1.84 billion, a P/E ratio of 8.92 and a beta of 1.61. Happen Bank has a twelve month low of $13.05 and a twelve month high of $21.67.

Happen Bank (NASDAQ:HAPN) last released 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. Happen Bank had a return on equity of 13.62% and a net margin of 20.16%. The company had revenue of $279.09 million during the quarter. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts forecast that Happen Bank will post 1.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Happen Bank stock. Russell Investments Group Ltd. lifted its holdings in shares of Happen Bank (NASDAQ:HAPN) by 18.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 386,263 shares of the company’s stock after purchasing an additional 59,887 shares during the quarter. Russell Investments Group Ltd. owned 0.34% of Happen Bank worth $5,709,000 as of its most recent SEC filing. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Happen Bank in a report on Tuesday, July 28th. Piper Sandler decreased their price objective on shares of Happen Bank from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Citizens Jmp upped their price objective on shares of Happen Bank from $23.00 to $25.00 and gave the company a “market outperform” rating in a 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Happen Bank has an average 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.