Scott Sanborn Sells 5,250 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 5,250 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $10.34, for a total value of $54,285.00. Following the completion of the transaction, the chief executive officer now directly owns 1,297,782 shares in the company, valued at approximately $13,419,065.88. This represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, April 9th, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.00, for a total transaction of $52,500.00.
• On Thursday, February 6th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00.

LendingClub Stock Performance

NYSE LC opened at $10.96 on Monday. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 24.36 and a beta of 2.09. The company’s 50-day simple moving average is $10.74 and its two-hundred day simple moving average is $13.66. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research report on Friday, April 4th. Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, LendingClub presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Institutional Trading of LendingClub

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock valued at $61,515,000 after purchasing an additional 2,961,050 shares during the period. Driehaus Capital Management LLC raised its position in shares of LendingClub by 229.1% during the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock worth $58,103,000 after purchasing an additional 2,498,318 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of LendingClub by 196.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock worth $34,505,000 after purchasing an additional 1,412,568 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of LendingClub by 158.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider’s stock worth $24,647,000 after purchasing an additional 933,680 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new position in shares of LendingClub during the 4th quarter worth about $13,432,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.