Lendingclub (NASDAQ:HAPN) Shares Down 4.4% – Should You Sell?

Shares of Lendingclub Corp (NASDAQ:HAPN) were down 4.4% during mid-day trading on Thursday . The stock traded as low as $17.93 and last traded at $17.98. Approximately 1,294,812 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 2,091,291 shares. The stock had previously closed at $18.81.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HAPN shares. BTIG Research increased their price target on Lendingclub from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Weiss Ratings started coverage on Lendingclub in a report on Thursday, June 25th. They issued a “hold (c+)” rating for the company. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Lendingclub presently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Lendingclub Trading Down 4.4%

The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.07 and a beta of 1.93.

Insider Activity

In related news, CEO Scott Sanborn sold 28,750 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $19.17, for a total transaction of $551,137.50. Following the sale, the chief executive officer owned 1,561,063 shares in the company, valued at approximately $29,925,577.71. This trade represents a 1.81% decrease in their position. 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. Also, General Counsel Jordan Cheng sold 5,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $20.85, for a total transaction of $114,675.00. Following the sale, the general counsel owned 102,574 shares in the company, valued at $2,138,667.90. This represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 109,250 shares of company stock worth $2,241,312. 3.31% of the stock is currently owned by corporate insiders.

Lendingclub Company Profile

I couldn’t find enough reliable information about LendingClub with the ticker symbol NASDAQ:HAPN to write an accurate company description.