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

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the sale, the chief executive officer now directly owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, September 5th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $11.36, for a total value of $193,120.00.
• On Thursday, August 8th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $10.25, for a total value of $174,250.00.

LendingClub Price Performance

NYSE LC traded up $0.38 on Friday, hitting $11.59. The stock had a trading volume of 948,969 shares, compared to its average volume of 1,393,626. LendingClub Co. has a 52-week low of $4.73 and a 52-week high of $12.87. The business’s fifty day moving average price is $11.12 and its 200 day moving average price is $9.57. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 32.96 and a beta of 2.04.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. During the same period in the prior year, the company posted $0.09 EPS. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that LendingClub Co. will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LC. BTIG Research assumed coverage on LendingClub in a research note on Friday, June 7th. They set a “buy” rating and a $12.00 price target on the stock. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wedbush lifted their price objective on shares of LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Institutional Trading of LendingClub

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of LendingClub by 176.1% in the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after purchasing an additional 857,371 shares during the period. Verition Fund Management LLC acquired a new position in LendingClub in the 4th quarter worth approximately $6,115,000. Vanguard Group Inc. increased its holdings in LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after buying an additional 336,827 shares during the period. American Century Companies Inc. raised its position in LendingClub by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after buying an additional 329,279 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in LendingClub during the 1st quarter valued at approximately $2,821,000. 74.08% of the stock is currently 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.