Insider Selling: LendingClub Co. (NYSE:LC) CEO Sells 17,000 Shares of Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. The trade was a 1.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Thursday, December 5th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $15.84, for a total transaction of $269,280.00.
• On Thursday, November 7th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $14.89, for a total value of $253,130.00.

LendingClub Stock Up 8.6 %

Shares of LendingClub stock opened at $17.51 on Monday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 38.07 and a beta of 2.03. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The company’s fifty day moving average is $15.84 and its 200 day moving average is $12.56.

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

Analysts Set New Price Targets

LC has been the subject of several research analyst reports. Piper Sandler boosted their target price on LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday. Maxim Group upped their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods upped their price target on shares of LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Compass Point raised their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.63.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of LendingClub by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after purchasing an additional 300,536 shares during the last quarter. State Street Corp lifted its holdings 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 buying an additional 82,315 shares during the period. Geode Capital Management LLC boosted its position 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 valued at $29,265,000 after acquiring an additional 42,429 shares during the last quarter. American Century Companies Inc. grew its holdings in LendingClub by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after acquiring an additional 329,279 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of LendingClub by 98.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after acquiring an additional 766,287 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

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.