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 company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $16.76, for a total value of $46,928.00. Following the completion of the transaction, the general counsel owned 100,813 shares of the company’s stock, valued at $1,689,625.88. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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, 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 Trading Down 1.4%

HAPN traded down $0.22 during midday trading on Friday, hitting $15.96. The company’s stock had a trading volume of 1,695,994 shares, compared to its average volume of 2,762,823. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.70 and a beta of 1.61. The firm has a 50-day simple moving average of $15.67. Happen Bank has a 52-week low of $13.05 and a 52-week high of $21.67.

Happen Bank (NASDAQ:HAPN) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate 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 for the quarter. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Happen Bank will post 1.89 earnings per share for the current fiscal year.

Institutional Trading of Happen Bank

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

Analyst Upgrades and Downgrades

HAPN has been the subject of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Happen Bank in a research note on Tuesday, September 22nd. BTIG Research restated a “buy” rating and set a $25.00 price objective on shares of Happen Bank in a report on Tuesday, July 28th. Piper Sandler cut their target price on Happen Bank from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Finally, Citizens Jmp lifted their target price on Happen Bank from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, July 28th. 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, Happen Bank has a consensus rating of “Moderate Buy” and a consensus price target 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.