Jordan Cheng Sells 7,000 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

LendingClub Stock Down 4.2 %

Shares of NYSE LC opened at $13.02 on Friday. The firm’s 50-day moving average price is $15.49 and its 200-day moving average price is $13.85. The company has a market cap of $1.48 billion, a PE ratio of 28.92 and a beta of 2.00. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price objective (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Hedge Funds Weigh In On LendingClub

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of LendingClub by 62.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 289,251 shares of the credit services provider’s stock worth $4,683,000 after buying an additional 111,031 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of LendingClub by 50.8% in the fourth quarter. ProShare Advisors LLC now owns 31,128 shares of the credit services provider’s stock worth $504,000 after buying an additional 10,490 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of LendingClub by 2.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider’s stock worth $29,779,000 after buying an additional 49,996 shares during the last quarter. Numerai GP LLC purchased a new position in shares of LendingClub in the fourth quarter worth approximately $1,015,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of LendingClub in the fourth quarter worth approximately $434,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.