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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction 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 directly owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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 transaction of $253,130.00.

LendingClub Trading Up 8.6 %

Shares of LC opened at $17.51 on Friday. The firm’s fifty day simple moving average is $15.84 and its two-hundred day simple moving average is $12.53. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The stock has a market capitalization of $1.97 billion, a P/E ratio of 38.07 and a beta of 2.03.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. As a group, research analysts predict that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

LC has been the topic of several research reports. Piper Sandler lifted their price target on shares of LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Wedbush upped their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price objective on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Maxim Group raised their target price on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.63.

Institutional Trading of LendingClub

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of LendingClub by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after buying an additional 300,536 shares in the last quarter. State Street Corp lifted its position in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after acquiring an additional 82,315 shares in the last quarter. Geode Capital Management LLC increased its holdings in LendingClub by 1.7% during 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. raised its position 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 buying an additional 329,279 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in 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 valued at $17,686,000 after acquiring an additional 766,287 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.