Insider Selling: LendingClub Co. (NYSE:LC) CEO Sells $54,285.00 in Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 5,250 shares of the firm’s 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 sale, the chief executive officer now directly owns 1,297,782 shares of the company’s stock, valued at $13,419,065.88. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $10.00, for a total value of $52,500.00.
• On Thursday, February 6th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $13.76, for a total value of $233,920.00.

LendingClub Trading Up 0.8 %

Shares of LendingClub stock opened at $10.96 on Monday. The firm has a market capitalization of $1.25 billion, a PE ratio of 24.36 and a beta of 2.09. The firm’s 50 day moving average is $10.74 and its 200 day moving average is $13.66. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On LendingClub

A number of institutional investors have recently modified their holdings of the company. Comerica Bank acquired a new position in LendingClub during the fourth quarter worth $37,000. SBI Securities Co. Ltd. purchased a new position in LendingClub in the fourth quarter valued at approximately $45,000. Sterling Capital Management LLC lifted its stake in LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock valued at $57,000 after purchasing an additional 3,119 shares during the last quarter. National Bank of Canada FI lifted its stake in LendingClub by 150.6% in the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 2,448 shares during the last quarter. Finally, KBC Group NV purchased a new position in LendingClub in the first quarter valued at approximately $67,000. 74.08% of the stock is owned by institutional investors.

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.