Scott Sanborn Sells 17,000 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $15.84, for a total transaction of $269,280.00. Following the sale, the chief executive officer now owns 1,329,184 shares of the company’s stock, valued at $21,054,274.56. This represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, November 7th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00.
• On Thursday, October 3rd, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $11.09, for a total value of $188,530.00.

LendingClub Stock Performance

Shares of LendingClub stock opened at $16.13 on Friday. The company has a market cap of $1.81 billion, a P/E ratio of 35.05 and a beta of 2.02. The firm has a fifty day moving average of $14.13 and a two-hundred day moving average of $11.43. LendingClub Co. has a one year low of $6.56 and a one year high of $17.15.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts predict that LendingClub Co. will post 0.47 earnings per share for the current year.

Institutional Trading of LendingClub

A number of institutional investors have recently modified their holdings of LC. AlphaMark Advisors LLC acquired a new stake in LendingClub in the third quarter valued at $32,000. FMR LLC increased its holdings in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,424 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of LendingClub in the second quarter valued at about $71,000. Innealta Capital LLC purchased a new stake in LendingClub during the second quarter worth about $72,000. Finally, Blue Trust Inc. grew its position in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares during the period. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LC has been the subject of several research reports. Keefe, Bruyette & Woods boosted their target price on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Maxim Group increased their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Compass Point lifted their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

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.