LendingClub Co. (NYSE:LC) General Counsel Sells $98,700.00 in Stock

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the sale, the general counsel now owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

LendingClub Trading Down 4.2 %

LendingClub stock opened at $13.02 on Monday. The firm has a market capitalization of $1.48 billion, a P/E ratio of 28.92 and a beta of 2.01. The stock has a fifty day moving average price of $15.49 and a 200 day moving average price of $13.88. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, 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, December 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Hedge Funds Weigh In On LendingClub

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in 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 purchasing an additional 82,315 shares during the last quarter. Wellington Management Group LLP increased its stake in LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after acquiring an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC increased its stake in LendingClub by 229.1% during the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock worth $58,103,000 after acquiring an additional 2,498,318 shares during the last quarter. Geode Capital Management LLC increased its stake in LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after acquiring an additional 42,429 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in LendingClub by 196.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock worth $34,505,000 after acquiring an additional 1,412,568 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.