Insider Selling: LendingClub Co. (NYSE:LC) CEO Sells 17,000 Shares of Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the sale, the chief executive officer now owns 1,312,184 shares in the company, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, December 5th, Scott Sanborn sold 17,000 shares of LendingClub stock. The stock was sold at an average price of $15.84, for a total value of $269,280.00.
• On Thursday, November 7th, Scott Sanborn sold 17,000 shares of LendingClub stock. The shares were sold at an average price of $14.89, for a total value of $253,130.00.

LendingClub Trading Up 8.6 %

NYSE LC opened at $17.51 on Friday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 38.07 and a beta of 2.02. The business’s 50 day moving average is $15.84 and its two-hundred day moving average is $12.53. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. LendingClub’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts forecast that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LC. Wedbush upped their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Maxim Group raised their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Compass Point upped their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.63.

Institutional Trading of LendingClub

Institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC purchased a new position in LendingClub in the third quarter valued at about $32,000. FMR LLC grew 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 worth $67,000 after acquiring an additional 1,424 shares during the period. Blue Trust Inc. increased its stake in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 5,247 shares in the last quarter. nVerses Capital LLC acquired a new position in LendingClub during the second quarter worth $71,000. Finally, Alpha Cubed Investments LLC purchased a new stake in LendingClub during the third quarter worth $170,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.