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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,295,184 shares in the company, valued at approximately $17,821,731.84. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $16.12, for a total value of $274,040.00.
• 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.

LendingClub Stock Down 1.1 %

Shares of LC opened at $13.50 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of 29.99 and a beta of 2.01. The company’s fifty day moving average is $16.01 and its two-hundred day 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 Investors Weigh In On LendingClub

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of LendingClub during the 4th quarter worth about $45,000. AlphaMark Advisors LLC purchased a new position in LendingClub in the third quarter valued at approximately $32,000. FMR LLC lifted its position in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp grew its stake in LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after buying an additional 1,975 shares during the period. Finally, Blue Trust Inc. increased its position in shares of LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LC has been the topic of a number of research reports. Wedbush increased their price objective on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Compass Point increased their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 target price (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. One investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.