Jordan Cheng Sells 7,000 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. This represents a 7.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

LendingClub Price Performance

LendingClub stock opened at $13.02 on Friday. The stock has a market cap of $1.48 billion, a P/E ratio of 28.92 and a beta of 2.00. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75. The firm’s 50 day moving average price is $15.49 and its 200-day moving average price is $13.85.

Institutional Investors Weigh In On LendingClub

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

Analyst Ratings Changes

LC has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price target (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 price target (down previously 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 issued a buy rating to the stock. According to MarketBeat, LendingClub currently has a consensus 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.