LendingClub Co. (NYSE:LC) CEO Sells $55,912.50 in Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $10.65, for a total value of $55,912.50. Following the transaction, the chief executive officer now owns 1,287,282 shares in the company, valued at approximately $13,709,553.30. The trade was a 0.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, May 1st, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.00, for a total value of $52,500.00.
• On Wednesday, April 23rd, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.34, for a total value of $54,285.00.
• On Wednesday, April 9th, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.00, for a total value of $52,500.00.

LendingClub Trading Up 0.3%

Shares of NYSE LC opened at $10.62 on Monday. LendingClub Co. has a twelve month low of $7.81 and a twelve month high of $18.75. The stock has a fifty day simple moving average of $10.26 and a 200-day simple moving average of $13.38. The stock has a market capitalization of $1.21 billion, a PE ratio of 23.60 and a beta of 2.35.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business had revenue of $217.71 million during the quarter, compared to analysts’ expectations of $213.71 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 21670.0% on a year-over-year basis. On average, equities analysts predict that LendingClub Co. will post 0.72 earnings per share for the current year.

Institutional Investors Weigh In On LendingClub

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in LendingClub by 36.0% during the 1st quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider’s stock worth $53,330,000 after purchasing an additional 1,368,057 shares in the last quarter. Driehaus Capital Management LLC grew its stake in LendingClub by 8.6% during the 1st quarter. Driehaus Capital Management LLC now owns 3,897,322 shares of the credit services provider’s stock worth $40,220,000 after purchasing an additional 308,523 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in LendingClub by 196.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock worth $34,505,000 after purchasing an additional 1,412,568 shares in the last quarter. Long Focus Capital Management LLC grew its stake in LendingClub by 26.4% during the 1st quarter. Long Focus Capital Management LLC now owns 2,034,725 shares of the credit services provider’s stock worth $20,998,000 after purchasing an additional 425,000 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in LendingClub by 9.3% during the 4th quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock worth $30,691,000 after purchasing an additional 160,916 shares in the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on LC. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Keefe, Bruyette & Woods reduced their target price on LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.75.

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.