LendingClub Co. (NYSE:LC) CEO Sells $269,280.00 in Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $15.84, for a total value of $269,280.00. Following the completion of the sale, the chief executive officer now directly owns 1,329,184 shares in the company, valued at $21,054,274.56. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, November 7th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $14.89, for a total value of $253,130.00.
• On Thursday, October 3rd, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $11.09, for a total value of $188,530.00.

LendingClub Stock Performance

NYSE LC traded up $0.44 during trading hours on Friday, hitting $16.13. 888,358 shares of the company’s stock were exchanged, compared to its average volume of 1,485,722. The business’s 50 day moving average is $14.13 and its 200-day moving average is $11.43. LendingClub Co. has a 12-month low of $6.56 and a 12-month high of $17.15. The firm has a market capitalization of $1.81 billion, a P/E ratio of 35.05 and a beta of 2.02.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. As a group, equities research analysts anticipate that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On LendingClub

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of LendingClub by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after purchasing an additional 42,429 shares during the period. Barclays PLC grew its stake in shares of LendingClub by 206.6% in the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock valued at $2,582,000 after buying an additional 152,224 shares in the last quarter. XTX Topco Ltd grew its stake in shares of LendingClub by 55.4% in the third quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock valued at $226,000 after buying an additional 7,054 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of LendingClub by 21.6% in 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 in the last quarter. Finally, State Street Corp grew its stake in shares of LendingClub by 2.2% in the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after buying an additional 82,315 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LC has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $15.00 price objective (up from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Compass Point upped their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, LendingClub has an average 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.