Proficio Capital Partners LLC Makes New Investment in LendingClub Co. (NYSE:LC)

Proficio Capital Partners LLC bought a new stake in LendingClub Co. (NYSE:LC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,993 shares of the credit services provider’s stock, valued at approximately $453,000.

Other large investors have also modified their holdings of the company. FMR LLC raised its stake in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,975 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of LendingClub by 7.3% during the 4th quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after acquiring an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the 4th quarter valued at approximately $45,000. Finally, XTX Topco Ltd lifted its stake in LendingClub by 55.4% during the third quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider’s stock worth $226,000 after purchasing an additional 7,054 shares during the last quarter. Institutional investors own 74.08% of the company’s stock.

Wall Street Analyst Weigh In

LC has been the topic of a number of research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Stock Performance

Shares of LC opened at $11.66 on Tuesday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 25.92 and a beta of 2.07. The stock’s fifty day moving average is $13.37 and its 200-day moving average is $13.91. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75.

Insider Buying and Selling at LendingClub

In related news, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average price of $12.88 per share, with a total value of $257,600.00. Following the purchase, the director now owns 148,018 shares of the company’s stock, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,000 shares of company stock valued at $606,660. Company insiders own 3.31% 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.