Scott Sanborn Sells 5,250 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $10.30, for a total value of $54,075.00. Following the sale, the chief executive officer now directly owns 1,298,925 shares in the company, valued at approximately $13,378,927.50. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, May 15th, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were sold at an average price of $10.65, for a total value of $55,912.50.
• On Thursday, May 1st, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were sold at an average price of $10.00, for a total transaction of $52,500.00.
• On Wednesday, April 23rd, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were sold at an average price of $10.34, for a total transaction 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 transaction of $52,500.00.

LendingClub Price Performance

LendingClub stock opened at $10.62 on Monday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 23.59 and a beta of 2.41. LendingClub Co. has a fifty-two week low of $7.81 and a fifty-two week high of $18.75. The firm has a fifty day moving average price of $10.05 and a two-hundred day moving average price of $12.87.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $217.71 million during the quarter, compared to analyst estimates of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The business’s revenue was up 21670.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts expect that LendingClub Co. will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quarry LP increased its stake in LendingClub by 1,427.2% in the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 2,626 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in LendingClub during the first quarter worth about $35,000. Comerica Bank bought a new stake in LendingClub during the fourth quarter worth about $37,000. SBI Securities Co. Ltd. bought a new stake in LendingClub during the fourth quarter worth about $45,000. Finally, Sterling Capital Management LLC lifted its position in shares of LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,119 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on LC shares. Wall Street Zen lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods lowered their price objective on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $16.29.

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.