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

Happen Bank (NASDAQ:HAPN) General Counsel Jordan Cheng sold 2,800 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $16.00, for a total value of $44,800.00. Following the transaction, the general counsel directly owned 103,613 shares in the company, 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 is accessible 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, 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 value of $49,168.00.

Happen Bank Stock Performance

Shares of HAPN stock traded up $0.13 during trading hours on Monday, reaching $15.66. The company had a trading volume of 469,387 shares, compared to its average volume of 2,054,214. The firm’s 50 day simple moving average is $15.90. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.76 and a beta of 1.61. Happen Bank has a 1-year low of $13.05 and a 1-year high of $21.67.

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

Analysts Set New Price Targets

A number of research firms recently commented on HAPN. Piper Sandler lowered their price objective on shares of Happen Bank from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Happen Bank in a research report on Tuesday, July 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Happen Bank in a research report on Tuesday, September 22nd. Finally, 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 research report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.33.

About Happen Bank

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.