Inceptionr LLC Buys Shares of 26,009 LendingClub Co. (NYSE:LC)

Inceptionr LLC bought a new stake in LendingClub Co. (NYSE:LC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,009 shares of the credit services provider’s stock, valued at approximately $421,000.

A number of other institutional investors also recently bought and sold shares of LC. SBI Securities Co. Ltd. bought a new position in LendingClub in the fourth quarter valued at about $45,000. FMR LLC lifted its holdings in LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after acquiring an additional 1,424 shares during the period. Jones Financial Companies Lllp lifted its holdings in LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,975 shares during the period. Sanctuary Advisors LLC bought a new position in shares of LendingClub in the fourth quarter worth about $164,000. Finally, Vontobel Holding Ltd. bought a new position in shares of LendingClub in the fourth quarter worth about $166,000. Institutional investors own 74.08% of the company’s stock.

Wall Street Analyst Weigh In

LC has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

LendingClub Trading Down 1.6 %

NYSE:LC opened at $11.22 on Friday. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75. The stock has a 50-day moving average price of $14.54 and a 200 day moving average price of $13.98. The stock has a market capitalization of $1.27 billion, a P/E ratio of 24.92 and a beta of 2.07.

Insider Buying and Selling

In other news, Director Michael P. Zeisser purchased 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the acquisition, the director now directly owns 148,018 shares of the company’s stock, valued at $1,906,471.84. This represents a 15.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,000 shares of company stock worth $606,660. 3.31% of the stock is owned by corporate insiders.

About LendingClub

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.