Jackson Square Partners LLC Has $45.99 Million Stock Holdings in LendingClub Co. (NYSE:LC)

Jackson Square Partners LLC decreased its position in LendingClub Co. (NYSE:LC) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,840,376 shares of the credit services provider’s stock after selling 583,129 shares during the quarter. LendingClub accounts for 4.9% of Jackson Square Partners LLC’s portfolio, making the stock its largest position. Jackson Square Partners LLC owned about 2.53% of LendingClub worth $45,986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LC. SBI Securities Co. Ltd. bought a new position in shares of LendingClub during the fourth quarter valued at about $45,000. FMR LLC increased its stake in LendingClub by 32.1% in the 3rd 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 lifted its position in LendingClub by 49.2% in the fourth 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 during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of LendingClub during the fourth quarter valued at approximately $164,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of LendingClub during the fourth quarter valued at approximately $166,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Trading Up 5.3 %

NYSE LC opened at $11.66 on Tuesday. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The stock’s fifty day moving average price is $13.37 and its 200-day moving average price is $13.91. The stock has a market cap of $1.32 billion, a P/E ratio of 25.92 and a beta of 2.07.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares in the company, valued at $1,244,508.30. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock worth $606,660 over the last quarter. 3.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.