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 business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total value of $233,920.00. Following the sale, the chief executive officer now owns 1,295,184 shares of the company’s stock, valued at approximately $17,821,731.84. This represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 2nd, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00.
• On Thursday, December 5th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $15.84, for a total transaction of $269,280.00.

LendingClub Stock Performance

NYSE:LC traded down $0.15 during midday trading on Friday, reaching $13.50. 1,331,136 shares of the stock traded hands, compared to its average volume of 2,299,932. The company has a fifty day moving average of $16.01 and a 200 day moving average of $13.64. The stock has a market capitalization of $1.52 billion, a P/E ratio of 29.99 and a beta of 2.01. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75.

Hedge Funds Weigh In On LendingClub

A number of institutional investors have recently bought and sold shares of LC. Wellington Management Group LLP increased its stake in LendingClub by 21.6% during the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock valued at $9,584,000 after purchasing an additional 148,685 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after acquiring an additional 45,307 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of LendingClub during the third quarter valued at approximately $237,000. GSA Capital Partners LLP raised its holdings in LendingClub by 47.3% in the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock worth $2,448,000 after acquiring an additional 68,791 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in LendingClub by 153.2% in the 3rd quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock valued at $1,815,000 after acquiring an additional 96,053 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LC has been the topic of a number of analyst reports. Maxim Group upped their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.38.

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.