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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now directly 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 at this link.

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

• 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.
• 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 LC stock traded up $1.38 during mid-day trading on Friday, reaching $17.51. The company’s stock had a trading volume of 1,662,535 shares, compared to its average volume of 1,454,367. The company’s 50 day simple moving average is $15.84 and its 200-day simple moving average is $12.53. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75. The firm has a market capitalization of $1.97 billion, a PE ratio of 38.07 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 1,424 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of LendingClub by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock valued at $2,562,000 after buying an additional 1,445 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of LendingClub during the third quarter worth approximately $32,000. Hsbc Holdings PLC grew its position in shares of LendingClub by 38.3% during the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock worth $141,000 after buying an additional 4,640 shares in the last quarter. Finally, Aigen Investment Management LP increased its stake in shares of LendingClub by 18.5% in the third quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider’s stock worth $361,000 after buying an additional 4,917 shares during the last quarter. 74.08% of the stock is 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.