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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 value 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 value of $253,130.00.

LendingClub Price Performance

LC stock traded up $1.38 on Friday, reaching $17.51. The company’s stock had a trading volume of 1,662,535 shares, compared to its average volume of 1,454,367. The firm has a fifty day moving average of $15.84 and a two-hundred day moving average of $12.53. The company has a market capitalization of $1.97 billion, a P/E ratio of 38.07 and a beta of 2.02. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 4.02% and a net margin of 6.85%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. As a group, equities analysts expect that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently made changes to their positions in LC. Wellington Management Group LLP increased its position in shares of LendingClub by 21.6% during the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock valued at $9,584,000 after purchasing an additional 148,685 shares during the period. Captrust Financial Advisors bought a new position in LendingClub during the third quarter valued at about $237,000. GSA Capital Partners LLP grew its holdings in LendingClub by 47.3% during the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock worth $2,448,000 after acquiring an additional 68,791 shares during the period. Quantbot Technologies LP raised its position in LendingClub by 153.2% in the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock worth $1,815,000 after acquiring an additional 96,053 shares in the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new stake in LendingClub in the 3rd quarter valued at about $411,000. 74.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LC has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Compass Point upped their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target on LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler boosted their price objective on LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.