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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $10.65, for a total value of $55,912.50. Following the completion of the sale, the chief executive officer now directly owns 1,287,282 shares of the company’s stock, valued at $13,709,553.30. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, May 1st, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were sold at an average price of $10.00, for a total value of $52,500.00.
• On Wednesday, April 23rd, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were sold at an average price of $10.34, for a total value of $54,285.00.
• On Wednesday, April 9th, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were sold at an average price of $10.00, for a total value of $52,500.00.

LendingClub Stock Performance

NYSE:LC opened at $10.62 on Friday. The stock has a 50-day simple moving average of $10.26 and a 200-day simple moving average of $13.39. The stock has a market cap of $1.21 billion, a P/E ratio of 23.60 and a beta of 2.35. LendingClub Co. has a 1 year low of $7.81 and a 1 year high of $18.75.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $217.71 million during the quarter, compared to analysts’ expectations of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business’s quarterly revenue was up 21670.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. On average, equities research analysts predict that LendingClub Co. will post 0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

LC has been the subject of a number of research reports. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Tuesday, May 6th. Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lowered their target price on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its position in shares of LendingClub by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider’s stock worth $441,000 after acquiring an additional 748 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of LendingClub by 9.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 984 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of LendingClub by 1.2% in the 1st quarter. SummerHaven Investment Management LLC now owns 90,565 shares of the credit services provider’s stock valued at $935,000 after purchasing an additional 1,066 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of LendingClub by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,230 shares of the credit services provider’s stock valued at $178,000 after purchasing an additional 1,730 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after purchasing an additional 1,975 shares during the period. 74.08% of the stock is owned by institutional investors and hedge funds.

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.