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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $14.89, for a total transaction of $253,130.00. Following the transaction, the chief executive officer now directly owns 1,339,273 shares of the company’s stock, valued at $19,941,774.97. This represents a 0.00 % decrease in their ownership of the stock. 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, 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.
• On Thursday, September 5th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $11.36, for a total value of $193,120.00.

LendingClub Stock Up 0.8 %

NYSE:LC traded up $0.12 during trading hours on Friday, hitting $15.05. 2,887,296 shares of the company’s stock traded hands, compared to its average volume of 1,487,164. LendingClub Co. has a 52 week low of $5.05 and a 52 week high of $15.72. The business’s fifty day simple moving average is $12.15 and its two-hundred day simple moving average is $10.41. The firm has a market cap of $1.69 billion, a P/E ratio of 32.42 and a beta of 2.01.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. LendingClub’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. On average, analysts expect that LendingClub Co. will post 0.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LC shares. Jefferies Financial Group lifted their target price on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Piper Sandler reissued an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC bought a new stake in LendingClub during the third quarter worth about $32,000. Blue Trust Inc. lifted its position in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares during the last quarter. EntryPoint Capital LLC boosted its stake in LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,328 shares in the last quarter. nVerses Capital LLC purchased a new stake in LendingClub in the second quarter worth approximately $71,000. Finally, Innealta Capital LLC bought a new position in LendingClub during the second quarter valued at approximately $72,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.