LendingClub Co. (NYSE:LC) CEO Sells $193,120.00 in Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction 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 of the company’s stock, valued at $15,600,381.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

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

LendingClub Price Performance

NYSE:LC traded down $0.39 during mid-day trading on Friday, reaching $10.95. 931,440 shares of the company’s stock traded hands, compared to its average volume of 1,413,029. The company has a 50 day moving average price of $10.54 and a 200-day moving average price of $9.17. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 32.62 and a beta of 2.06. LendingClub Co. has a 12-month low of $4.73 and a 12-month high of $12.87.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. LendingClub’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. As a group, analysts forecast that LendingClub Co. will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LC. Baader Bank Aktiengesellschaft purchased a new stake in LendingClub in the second quarter valued at $600,000. Wellington Management Group LLP increased its holdings in shares of LendingClub by 176.1% in the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after acquiring an additional 857,371 shares during the last quarter. G2 Investment Partners Management LLC purchased a new position in shares of LendingClub during the fourth quarter worth about $1,758,000. Verition Fund Management LLC purchased a new position in LendingClub during the 4th quarter worth $6,115,000. Finally, Capstone Investment Advisors LLC acquired a new stake in LendingClub in the first quarter valued at $164,000. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $13.00 target price (up previously from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. Jefferies Financial Group boosted 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. BTIG Research initiated coverage on LendingClub in a research report on Friday, June 7th. They issued a “buy” rating and a $12.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Compass Point raised their target price on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.07.

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.