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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the sale, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, August 8th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $10.25, for a total transaction of $174,250.00.

LendingClub Stock Performance

Shares of LC opened at $10.95 on Friday. LendingClub Co. has a fifty-two week low of $4.73 and a fifty-two week high of $12.87. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 32.21 and a beta of 2.06. The firm has a 50 day moving average price of $10.59 and a 200-day moving average price of $9.18.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The business had revenue of $187.20 million during the quarter, compared to the consensus estimate of $177.03 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, equities research analysts predict that LendingClub Co. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LC has been the subject of a number of research analyst reports. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Wedbush lifted their target price on shares of LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Compass Point boosted their price target on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Institutional Investors Weigh In On LendingClub

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC increased its stake in LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares during the period. nVerses Capital LLC bought a new position in shares of LendingClub in the second quarter worth approximately $71,000. Innealta Capital LLC purchased a new position in shares of LendingClub in the second quarter worth $72,000. SG Americas Securities LLC raised its holdings in LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,732 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in LendingClub during the 1st quarter valued at $129,000. 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.