LendingClub Co. (NYSE:LC) Shares Sold by Brighton Jones LLC

Brighton Jones LLC lessened its stake in LendingClub Co. (NYSE:LC) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 411,070 shares of the credit services provider’s stock after selling 43,788 shares during the quarter. Brighton Jones LLC’s holdings in LendingClub were worth $6,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in LendingClub by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after acquiring an additional 300,536 shares during the last quarter. State Street Corp increased its holdings in LendingClub by 2.2% in the 3rd 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. Geode Capital Management LLC grew its stake in shares of LendingClub by 1.7% in 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 buying an additional 42,429 shares in the last quarter. Point72 Asset Management L.P. raised its holdings 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 valued at $17,686,000 after buying an additional 766,287 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after acquiring an additional 828,958 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

LC has been the topic of several research reports. Wedbush increased their price target on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler raised their price target on shares of LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Maxim Group increased their price objective on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.63.

LendingClub Trading Down 1.0 %

LC stock opened at $16.93 on Friday. The stock has a market cap of $1.90 billion, a P/E ratio of 36.79 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 50 day moving average is $16.24 and its two-hundred day moving average is $13.28.

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, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.05 EPS. On average, equities research analysts predict that LendingClub Co. will post 0.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the transaction, the director now owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the 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 sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock valued at $1,158,610 over the last quarter. Company insiders own 3.31% 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.