Insider Selling: LendingClub (NYSE:LC) CEO Sells 23,851 Shares of Stock

LendingClub Corporation (NYSE:LC) CEO Scott Sanborn sold 23,851 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.86, for a total value of $425,978.86. Following the completion of the transaction, the chief executive officer owned 1,594,712 shares in the company, valued at approximately $28,481,556.32. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

LendingClub Trading Up 7.3%

Shares of LC traded up $1.20 during trading hours on Thursday, reaching $17.59. The stock had a trading volume of 1,648,271 shares, compared to its average volume of 2,181,986. LendingClub Corporation has a 12 month low of $10.11 and a 12 month high of $21.67. The firm has a 50-day simple moving average of $16.01 and a 200 day simple moving average of $17.05. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 11.81 and a beta of 1.98.

LendingClub (NYSE:LC) last issued its earnings results on Monday, April 27th. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. LendingClub had a return on equity of 11.92% and a net margin of 16.99%.The company had revenue of $252.25 million for the quarter, compared to analysts’ expectations of $249.10 million. During the same period last year, the business earned $0.10 EPS. LendingClub’s quarterly revenue was up 15.9% compared to the same quarter last year. LendingClub has set its FY 2026 guidance at 1.650-1.800 EPS and its Q2 2026 guidance at 0.400-0.450 EPS. On average, equities analysts forecast that LendingClub Corporation will post 1.72 EPS for the current year.

Hedge Funds Weigh In On LendingClub

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in LendingClub by 14.8% during the 1st quarter. Bank of America Corp DE now owns 1,309,624 shares of the credit services provider’s stock valued at $18,754,000 after acquiring an additional 169,220 shares in the last quarter. Edgestream Partners L.P. lifted its stake in LendingClub by 64.8% during the 1st quarter. Edgestream Partners L.P. now owns 157,040 shares of the credit services provider’s stock valued at $2,249,000 after acquiring an additional 61,770 shares in the last quarter. California State Teachers Retirement System lifted its stake in LendingClub by 28.0% during the 1st quarter. California State Teachers Retirement System now owns 137,043 shares of the credit services provider’s stock valued at $1,962,000 after acquiring an additional 29,987 shares in the last quarter. Quantinno Capital Management LP lifted its stake in LendingClub by 207.1% during the 1st quarter. Quantinno Capital Management LP now owns 118,141 shares of the credit services provider’s stock valued at $1,692,000 after acquiring an additional 79,671 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in LendingClub during the 1st quarter valued at $179,000. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LC shares. Zacks Research upgraded LendingClub from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wall Street Zen cut LendingClub from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LendingClub in a report on Wednesday, May 6th. Finally, Stephens restated an “overweight” rating and set a $22.50 price objective (up from $21.00) on shares of LendingClub in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.07.

About LendingClub

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.