LendingClub Co. (NYSE:LC) CEO Sells $54,075.00 in Stock

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 5,250 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.30, for a total value of $54,075.00. Following the completion of the transaction, the chief executive officer now owns 1,298,925 shares in the company, valued at $13,378,927.50. This trade represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, May 15th, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.65, for a total value of $55,912.50.
• On Thursday, May 1st, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.00, for a total value of $52,500.00.
• On Wednesday, April 23rd, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.34, for a total value of $54,285.00.
• On Wednesday, April 9th, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.00, for a total value of $52,500.00.

LendingClub Price Performance

Shares of LendingClub stock opened at $10.62 on Monday. The business has a 50-day moving average of $10.05 and a 200-day moving average of $12.87. The company has a market capitalization of $1.21 billion, a PE ratio of 23.59 and a beta of 2.41. LendingClub Co. has a 1-year low of $7.81 and a 1-year high of $18.75.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The company’s revenue was up 21670.0% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. On average, equities analysts expect that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on LC. JPMorgan Chase & Co. reduced their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Wall Street Zen lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods cut their target price on LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.29.

Institutional Trading of LendingClub

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in LendingClub by 36.0% in the first quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider’s stock worth $53,330,000 after purchasing an additional 1,368,057 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of LendingClub by 8.6% during the first quarter. Driehaus Capital Management LLC now owns 3,897,322 shares of the credit services provider’s stock worth $40,220,000 after purchasing an additional 308,523 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of LendingClub by 196.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock worth $34,505,000 after purchasing an additional 1,412,568 shares during the period. Long Focus Capital Management LLC raised its holdings in shares of LendingClub by 26.4% during the first quarter. Long Focus Capital Management LLC now owns 2,034,725 shares of the credit services provider’s stock worth $20,998,000 after purchasing an additional 425,000 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of LendingClub by 9.3% during the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock worth $30,691,000 after purchasing an additional 160,916 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.