LendingClub Co. (NYSE:LC) CEO Sells $193,120.00 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, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at $15,600,381.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, August 8th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $10.25, for a total transaction of $174,250.00.

LendingClub Stock Performance

Shares of NYSE LC opened at $10.95 on Friday. The company has a 50 day simple moving average of $10.59 and a two-hundred day simple moving average of $9.18. LendingClub Co. has a fifty-two week low of $4.73 and a fifty-two week high of $12.87. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 32.21 and a beta of 2.06.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. During the same quarter last year, the company earned $0.09 EPS. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, analysts forecast that LendingClub Co. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LC shares. BTIG Research began coverage on shares of LendingClub in a research report on Friday, June 7th. They issued a “buy” rating and a $12.00 target price for the company. Jefferies Financial Group raised their price objective on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $13.00 target price (up previously from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.07.

Hedge Funds Weigh In On LendingClub

Several large investors have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its stake in LendingClub by 36.7% during the 4th quarter. New York State Common Retirement Fund now owns 45,209 shares of the credit services provider’s stock valued at $395,000 after purchasing an additional 12,140 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of LendingClub by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 848,315 shares of the credit services provider’s stock valued at $7,414,000 after buying an additional 16,298 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in LendingClub by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock worth $40,664,000 after buying an additional 73,515 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in LendingClub by 49.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,761 shares of the credit services provider’s stock worth $235,000 after buying an additional 9,184 shares during the last quarter. Finally, Jackson Square Partners LLC lifted its stake in LendingClub by 5.9% during the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock valued at $84,987,000 after acquiring an additional 541,538 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.