LendingClub Co. (NYSE:LC) Position Increased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of LendingClub Co. (NYSE:LC) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,895,699 shares of the credit services provider’s stock after buying an additional 160,916 shares during the quarter. American Century Companies Inc. owned about 1.69% of LendingClub worth $30,691,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of LendingClub during the fourth quarter worth about $45,000. FMR LLC grew its position 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 last quarter. Jones Financial Companies Lllp increased its stake in shares of 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 period. Sanctuary Advisors LLC bought a new stake in shares of LendingClub during the fourth quarter valued at approximately $164,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of LendingClub during the fourth quarter worth approximately $166,000. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Stock Down 4.1 %

NYSE:LC opened at $10.40 on Friday. The business’s 50-day moving average price is $12.95 and its 200 day moving average price is $13.87. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The firm has a market cap of $1.18 billion, a P/E ratio of 23.12 and a beta of 2.07.

Insider Activity

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the sale, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. This represents a 1.28 % 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 link. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value 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. In the last quarter, insiders sold 41,000 shares of company stock worth $606,660. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on LC shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.