LendingClub Co. (NYSE:LC) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in LendingClub Co. (NYSE:LC) by 29.2% during the fourth quarter, HoldingsChannel reports. The fund owned 176,434 shares of the credit services provider’s stock after buying an additional 39,870 shares during the period. Teacher Retirement System of Texas’ holdings in LendingClub were worth $2,856,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LC. SBI Securities Co. Ltd. purchased a new stake in LendingClub in the fourth quarter valued at $45,000. FMR LLC raised its holdings in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares during the period. Jones Financial Companies Lllp lifted its position 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 buying an additional 1,975 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in LendingClub during the fourth quarter worth about $164,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of LendingClub during the fourth quarter valued at about $166,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LC. JPMorgan Chase & Co. decreased their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Piper Sandler restated an “overweight” rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock worth $606,660 in the last quarter. 3.31% of the stock is owned by company insiders.

LendingClub Trading Down 1.8 %

LendingClub stock opened at $11.44 on Wednesday. The firm has a market capitalization of $1.30 billion, a P/E ratio of 25.42 and a beta of 2.07. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The stock’s fifty day simple moving average is $13.29 and its 200-day simple moving average is $13.91.

LendingClub 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.