Jordan Cheng Sells 22,000 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

LendingClub Price Performance

LendingClub stock opened at $15.54 on Thursday. The business has a 50 day simple moving average of $12.36 and a 200 day simple moving average of $10.60. LendingClub Co. has a one year low of $5.38 and a one year high of $16.16. The company has a market capitalization of $1.75 billion, a PE ratio of 33.63 and a beta of 2.01.

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

Institutional Trading of LendingClub

Hedge funds have recently modified their holdings of the company. Swiss National Bank increased its holdings in LendingClub by 1.0% during the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock valued at $1,902,000 after purchasing an additional 2,100 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of LendingClub by 8.5% in the first quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock valued at $172,000 after buying an additional 1,536 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of LendingClub by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock valued at $100,610,000 after buying an additional 175,706 shares during the last quarter. EntryPoint Capital LLC grew its holdings in LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 2,328 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in LendingClub by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,715 shares of the credit services provider’s stock valued at $622,000 after acquiring an additional 4,479 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LC. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (up from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Maxim Group boosted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Compass Point increased their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, LendingClub presently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

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.