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

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BTIG Research lifted their target price on shares of Lendingclub from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings began coverage on shares of Lendingclub in a research report on Thursday, June 25th. They set a “hold (c+)” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Lendingclub Stock Down 4.4%

The firm has a market cap of $2.08 billion, a P/E ratio of 12.07 and a beta of 1.93.

Insider Transactions at Lendingclub

In other news, General Counsel Jordan Cheng sold 5,500 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $20.85, for a total value of $114,675.00. Following the completion of the sale, the general counsel owned 102,574 shares of the company’s stock, valued at approximately $2,138,667.90. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Sanborn sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $21.00, for a total transaction of $525,000.00. Following the completion of the transaction, the chief executive officer owned 1,536,063 shares in the company, valued at $32,257,323. This trade represents a 1.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 109,250 shares of company stock valued at $2,241,312. 3.31% of the stock is currently owned by corporate insiders.

About Lendingclub

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