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 dated Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the sale, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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.
• On Thursday, August 8th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $10.25, for a total value of $174,250.00.

LendingClub Trading Up 3.4 %

LC opened at $11.59 on Friday. LendingClub Co. has a 1-year low of $4.73 and a 1-year high of $12.87. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 34.09 and a beta of 2.04. The company’s fifty day moving average price is $11.14 and its two-hundred day moving average price is $9.61.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. As a group, equities analysts forecast that LendingClub Co. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LC shares. Wedbush increased their price target on LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their price target on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Compass Point increased their price objective on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, LendingClub currently has an average rating of “Moderate Buy” and an average target price of $13.07.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. EntryPoint Capital LLC boosted its holdings in LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of LendingClub in the 2nd quarter worth approximately $71,000. Innealta Capital LLC bought a new position in shares of LendingClub in the second quarter valued at approximately $72,000. SG Americas Securities LLC increased its position in shares of LendingClub by 16.3% during the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 1,732 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in LendingClub during the first quarter worth $129,000. Institutional investors own 74.08% of the company’s stock.

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.