LendingClub Co. (NYSE:LC) CEO Scott Sanborn Sells 17,000 Shares

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the transaction, the chief executive officer now owns 1,295,184 shares in the company, valued at $17,821,731.84. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, January 2nd, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $16.12, for a total value of $274,040.00.
• On Thursday, December 5th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $15.84, for a total value of $269,280.00.

LendingClub Trading Down 1.1 %

Shares of LendingClub stock traded down $0.15 during trading on Friday, hitting $13.50. 1,331,136 shares of the stock traded hands, compared to its average volume of 2,299,932. The stock’s fifty day simple moving average is $16.01 and its 200 day simple moving average is $13.64. The firm has a market cap of $1.52 billion, a P/E ratio of 29.99 and a beta of 2.01. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LC. AlphaMark Advisors LLC acquired a new position in LendingClub during the 3rd quarter valued at about $32,000. SBI Securities Co. Ltd. purchased a new position in shares of LendingClub in the fourth quarter worth about $45,000. FMR LLC lifted its holdings in shares of LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares during the period. Blue Trust Inc. boosted its position in LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after buying an additional 5,247 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after buying an additional 1,975 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LC. Maxim Group increased their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Compass Point increased their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Wedbush boosted their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

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.