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

Key Points

• General Counsel Jordan Cheng sold 2,800 LendingClub shares at an average price of $16.00, generating $44,800. The sale was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 2.63% to 103,613 shares.
• LendingClub shares fell 3.2% to $15.53 during Friday trading. The stock has traded between $13.05 and $21.67 over the past year.
• The company reported quarterly EPS of $0.50, exceeding analyst expectations of $0.47, while revenue reached $279.09 million, down 1.1% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $23.33.

Lendingclub Corp (NASDAQ:HAPN - Get Free Report) General Counsel Jordan Cheng sold 2,800 shares of Lendingclub stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $16.00, for a total value of $44,800.00. Following the sale, the general counsel owned 103,613 shares of the company's stock, valued at approximately $1,657,808. This represents a 2.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $17.56, for a total value of $49,168.00.

Lendingclub Trading Down 3.2%

NASDAQ:HAPN traded down $0.51 during trading hours on Friday, reaching $15.53. 2,448,040 shares of the company were exchanged, compared to its average volume of 2,061,914. Lendingclub Corp has a 52-week low of $13.05 and a 52-week high of $21.67. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 8.68 and a beta of 1.88. The company's 50 day moving average is $15.95.

Lendingclub (NASDAQ:HAPN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Lendingclub had a return on equity of 13.76% and a net margin of 20.16%. The company had revenue of $279.09 million during the quarter. The business's revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast that Lendingclub Corp will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Lendingclub

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.

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