LendingClub Co. (NYSE:LC) CEO Scott Sanborn Sells 17,000 Shares

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the sale, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was 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 shares were sold at an average price of $14.89, for a total value of $253,130.00.

LendingClub Stock Up 8.6 %

Shares of LC stock opened at $17.51 on Friday. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The firm has a 50 day moving average of $15.84 and a two-hundred day moving average of $12.53. The stock has a market capitalization of $1.97 billion, a PE ratio of 38.07 and a beta of 2.02.

LendingClub (NYSE:LC) last released its earnings results 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. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same period in the previous year, the firm posted $0.05 EPS. LendingClub’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Institutional Trading of LendingClub

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in LendingClub by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after buying an additional 45,307 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of LendingClub by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock valued at $29,265,000 after acquiring an additional 42,429 shares during the last quarter. Barclays PLC lifted its stake in LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock worth $2,582,000 after purchasing an additional 152,224 shares during the last quarter. XTX Topco Ltd boosted its holdings in LendingClub by 55.4% in the third quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock valued at $226,000 after purchasing an additional 7,054 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in LendingClub by 21.6% in the third 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 last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LC has been the topic of several research analyst reports. Piper Sandler boosted their price objective on shares of LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price target on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Compass Point increased their price objective on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wedbush boosted their target price on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Maxim Group raised their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. 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. Based on data from MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price 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.