Happen (HAPN)
Digital marketplace bank for consumer lending, deposits, and institutional loan distribution.
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Offers consumer loans, deposit accounts, auto refinancing, point-of-sale finance, and small-business banking through a branchless digital bank, while its marketplace sells and services credit for institutional investors. Earnings combine balance-sheet interest income with fees from loan originations, sales, and servicing.
Operates a branchless, nationally chartered digital bank serving creditworthy U.S. consumers through personal loans, savings and checking accounts, auto refinancing, small-business banking, and point-of-sale financing. Its institutional marketplace sells whole loans or loan-backed securities to asset managers, financial institutions, insurers, and other investors.
Combines proprietary credit models, automated decisioning, deposit funding, and loan servicing. It earns interest on loans and securities kept on the bank balance sheet, while loan sales generate origination, servicing, and related marketplace revenue.
Revenue and origination capacity depend on consumer credit performance, deposit costs, and demand from institutional loan buyers. As a bank holding company with an FDIC-insured national-bank subsidiary, it operates under capital, liquidity, consumer-compliance, safety-and-soundness, and affiliate-transaction rules.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
No analyst notes in the last 24 months.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $4.06B · Total debt $11.4M · Total assets $12.55B · Shareholders' equity $1.57B
- Revenue
- $352.8M
- Operating income
- $93.9M
- Net income
- $58.1M
No dividends on record.
| Insiders | 1.72% | 1.99M shares | |
|---|---|---|---|
| 6 holders · as of Sep 17, 2026 | |||
| Other | 98.28% | 113.42M shares | |
| remainder | |||
115.41M company shares as of Sep 23, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Vanguard Capital ManagementInstitution | 5.00% | 5.77M | filed Jul 31, 2026 |
Scott SanbornInsiderdirector, officer: CEO | 1.27% | 1.46M | filed Aug 27, 2026 |
Andrew LaBenneInsiderofficer: Chief Financial Officer | 0.20% | 233,617 | filed Aug 27, 2026 |
Jordan ChengInsiderofficer: General Counsel & Secretary | 0.09% | 106,413 | filed Sep 4, 2026 |
Erin SelleckInsiderdirector | 0.07% | 75,380 | filed Sep 17, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Erin Selleck | director | −7,148 | $16.68 |
| Sep 4, 2026 | Erin Selleck | director | −2,057 | $17.41 |
| Sep 3, 2026 | Jordan Cheng | officer: General Counsel & Secretary | −2,800 | $17.56 |
| Aug 26, 2026 | Scott Sanborn | director, officer: CEO | −28,750 | $18.25 |
| Jun 5, 2026 | Erin Selleck | director | −2,391 | $17.40 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Happen | $15.61 | −2.50% | $1.85B | 9.6 | 7.8 | 1.4 | −20.7% |
| Upstart | $25.55 | −1.62% | $2.49B | 50.8 | 18.1 | 1.9 | +41.8% |
| SoFi | $16.87 | −1.69% | $22.01B | 35.7 | 23.0 | 3.9 | +41.0% |
| Ally Financial | $38.71 | −0.92% | $11.89B | 9.2 | 6.5 | 0.8 | −0.3% |
| Affirm | $67.01 | −6.63% | $24.04B | 13.0 | 35.1 | 5.7 | +33.0% |
| Synchrony Financial | $71.94 | −1.00% | $23.64B | 7.4 | 7.6 | 1.2 | −21.1% |
| Median | 13.0 | 18.1 | 1.9 | +33.0% |