LendingClub Co. (NYSE:LC) CEO Sells $274,040.00 in Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the sale, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Scott Sanborn also recently made the following trade(s):

• On Thursday, December 5th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $15.84, for a total transaction of $269,280.00.
• On Thursday, November 7th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00.

LendingClub Trading Up 8.6 %

LC opened at $17.51 on Monday. The stock’s fifty day simple moving average is $15.84 and its 200 day simple moving average is $12.56. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The stock has a market cap of $1.97 billion, a PE ratio of 38.07 and a beta of 2.03.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities analysts forecast that LendingClub Co. will post 0.47 earnings per share for the current year.

Institutional Investors Weigh In On LendingClub

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of LendingClub by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after buying an additional 300,536 shares in the last quarter. State Street Corp increased its position in LendingClub by 2.2% during the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after acquiring an additional 82,315 shares during the period. Geode Capital Management LLC raised its stake in LendingClub by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after purchasing an additional 42,429 shares in the last quarter. American Century Companies Inc. boosted its holdings in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock valued at $14,032,000 after purchasing an additional 329,279 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of LendingClub by 98.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after purchasing an additional 766,287 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Maxim Group boosted their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Compass Point increased their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler boosted their target price on shares of LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.63.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.