LendingClub Co. (NYSE:LC) Shares Sold by Grassi Investment Management

Grassi Investment Management reduced its position in LendingClub Co. (NYSE:LC) by 21.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 75,950 shares of the credit services provider’s stock after selling 20,600 shares during the quarter. Grassi Investment Management owned about 0.07% of LendingClub worth $868,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of LC. Vanguard Group Inc. grew its stake in shares of LendingClub by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock worth $100,610,000 after purchasing an additional 175,706 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after purchasing an additional 300,536 shares during the period. American Century Companies Inc. grew its stake in shares of 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 purchasing an additional 329,279 shares during the period. Wellington Management Group LLP grew its stake in shares of LendingClub by 176.1% during the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after purchasing an additional 857,371 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of LendingClub by 3.3% during the 2nd quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider’s stock worth $6,621,000 after purchasing an additional 24,927 shares during the period. 74.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Compass Point boosted their price objective on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $13.00 price objective (up from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.57.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 51,703 shares of company stock worth $562,705. Corporate insiders own 3.31% of the company’s stock.

LendingClub Trading Up 18.9 %

NYSE:LC opened at $14.82 on Thursday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 36.66 and a beta of 2.04. The company’s 50-day moving average is $11.58 and its two-hundred day moving average is $9.96. LendingClub Co. has a 12-month low of $4.73 and a 12-month high of $14.82.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. On average, equities research analysts forecast that LendingClub Co. will post 0.38 earnings per share for the current fiscal year.

LendingClub 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.