Vestmark Advisory Solutions Inc. Makes New $288,000 Investment in LendingClub Co. (NYSE:LC)

Vestmark Advisory Solutions Inc. bought a new position in LendingClub Co. (NYSE:LC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,776 shares of the credit services provider’s stock, valued at approximately $288,000.

Several other large investors have also bought and sold shares of the company. State Street Corp raised its holdings in LendingClub by 2.2% in the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after buying an additional 82,315 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of LendingClub by 1.7% during 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 purchasing an additional 42,429 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of LendingClub by 98.1% during the third 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 purchasing an additional 766,287 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after purchasing an additional 45,307 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of LendingClub by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 924,843 shares of the credit services provider’s stock valued at $14,973,000 after purchasing an additional 23,486 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price objective (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Piper Sandler reissued an “overweight” rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, LendingClub currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Insider Buying and Selling at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the transaction, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the transaction, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,000 shares of company stock valued at $606,660. Insiders own 3.31% of the company’s stock.

LendingClub Trading Down 1.6 %

Shares of LC stock opened at $11.22 on Monday. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The stock has a market cap of $1.27 billion, a P/E ratio of 24.92 and a beta of 2.07. The company has a 50 day simple moving average of $14.54 and a two-hundred day simple moving average of $13.99.

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.