LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng Sells 7,000 Shares

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the sale, the general counsel now directly owns 88,263 shares of the company’s stock, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

LendingClub Stock Performance

Shares of LC opened at $13.02 on Monday. The company has a market capitalization of $1.48 billion, a P/E ratio of 28.92 and a beta of 2.01. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75. The stock has a 50-day moving average price of $15.49 and a 200 day moving average price of $13.88.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LC. Wellington Management Group LLP lifted its holdings in LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after buying an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in 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 buying an additional 2,498,318 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in 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 buying an additional 1,412,568 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in 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 buying an additional 933,680 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC bought a new position in LendingClub during the 4th quarter worth approximately $13,432,000. Institutional investors own 74.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 target price (up previously from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

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.