LendingClub Co. (NYSE:LC) CEO Sells $233,920.00 in Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the completion of the transaction, the chief executive officer now owns 1,295,184 shares in the company, valued at approximately $17,821,731.84. This trade represents a 1.30 % decrease in their position. The transaction 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, January 2nd, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00.
• 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.

LendingClub Stock Down 1.1 %

Shares of NYSE LC opened at $13.50 on Friday. The stock has a market cap of $1.52 billion, a P/E ratio of 29.99 and a beta of 2.01. The firm’s 50-day simple moving average is $16.01 and its 200 day simple moving average is $13.64. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in shares of LendingClub in the fourth quarter valued at approximately $45,000. AlphaMark Advisors LLC acquired a new stake in LendingClub in the third quarter worth approximately $32,000. FMR LLC lifted its position in LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares during the period. Jones Financial Companies Lllp boosted its stake in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after purchasing an additional 1,975 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 5,247 shares during the period. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Maxim Group raised their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” 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. Finally, Wedbush raised their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

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.