Key Points
- Lendingclub SVP Fergal Stack sold 50,000 shares on July 1 at an average price of $21.01, generating about $1.05 million in proceeds. After the sale, he still held 154,977 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- The stock fell 4.1% after the transaction, opening Friday at $19.69. Lendingclub now has a market cap of about $2.27 billion, with a P/E ratio of 13.21 and a 52-week range of $12.17 to $21.67.
- Analysts remain cautiously positive, with BTIG Research raising its price target from $20 to $25 and reiterating a buy rating. MarketBeat’s consensus view is a “Moderate Buy” with an average price target of $25.00.
Lendingclub Corp (NASDAQ:HAPN - Get Free Report) General Counsel Jordan Cheng sold 5,500 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $20.85, for a total transaction of $114,675.00. Following the completion of the transaction, the general counsel directly owned 102,574 shares in the company, valued at approximately $2,138,667.90. The trade was a 5.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Lendingclub Price Performance
HAPN stock opened at $19.69 on Friday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 13.21 and a beta of 1.93. Lendingclub Corp has a 52-week low of $12.17 and a 52-week high of $21.67.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. BTIG Research lifted their target price on Lendingclub from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday. Weiss Ratings began coverage on Lendingclub in a research report on Thursday, June 25th. They issued a "hold (c+)" rating for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.00.
Check Out Our Latest Stock Report on Lendingclub
Lendingclub Company Profile
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Further Reading
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