Insider Selling: LendingClub Co. (NYSE:LC) CEO Sells 17,000 Shares of Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $15.84, for a total value of $269,280.00. Following the sale, the chief executive officer now directly owns 1,329,184 shares in the company, valued at $21,054,274.56. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Scott Sanborn also recently made the following trade(s):

• 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 value of $253,130.00.
• On Thursday, October 3rd, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $11.09, for a total value of $188,530.00.

LendingClub Trading Up 2.7 %

NYSE:LC opened at $16.12 on Monday. The stock has a 50 day moving average of $14.13 and a two-hundred day moving average of $11.46. LendingClub Co. has a 12 month low of $6.56 and a 12 month high of $17.15. The firm has a market cap of $1.81 billion, a P/E ratio of 35.04 and a beta of 2.02.

LendingClub (NYSE:LC) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. On average, research analysts forecast that LendingClub Co. will post 0.47 earnings per share for the current year.

Institutional Trading of LendingClub

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 300,536 shares in the last quarter. State Street Corp grew its holdings 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 buying an additional 82,315 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $29,265,000 after acquiring an additional 42,429 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of LendingClub by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after acquiring an additional 329,279 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LC. Maxim Group boosted their target price on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Compass Point upped 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised their price objective on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One research 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 data from MarketBeat.com, LendingClub presently has an average rating of “Moderate Buy” and an average target price of $16.00.

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.