Happen Bank (NASDAQ:HAPN) Stock: Insider Jordan Cheng Sells 2,800 Shares

Happen Bank (NASDAQ:HAPN) General Counsel Jordan Cheng sold 2,800 shares of the business’s stock in a transaction that occurred 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 directly owned 100,813 shares in the company, valued at approximately $1,689,625.88. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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, 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%

Shares of NASDAQ HAPN opened at $15.96 on Friday. The business’s fifty day moving average is $15.67. Happen Bank has a 1-year low of $13.05 and a 1-year high of $21.67. 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 (NASDAQ:HAPN) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $279.09 million for the quarter. Happen Bank had a net margin of 20.16% and a return on equity of 13.62%. Happen Bank’s quarterly revenue was down 1.1% on a year-over-year basis. On average, research analysts expect that Happen Bank will post 1.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $25.00 price target on shares of Happen Bank in a research note on Tuesday, July 28th. Piper Sandler reduced 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, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Happen Bank in a report on Tuesday, September 22nd. Finally, Citizens Jmp boosted their target price on Happen Bank from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Happen Bank currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Happen Bank stock. Knights of Columbus Asset Advisors LLC grew its stake in shares of Happen Bank (NASDAQ:HAPN) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 173,804 shares of the company’s stock after purchasing an additional 1,084 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.15% of Happen Bank worth $2,569,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.