Assenagon Asset Management S.A. Sells 189,597 Shares of LendingClub Corporation $LC

Key Points

• Assenagon Asset Management cut its LendingClub stake by 38.6% in Q1, selling 189,597 shares and leaving it with 301,692 shares worth about $4.32 million.
• Insider selling continued at LendingClub, with CEO Scott Sanborn and General Counsel Jordan Cheng both selling shares under pre-arranged Rule 10b5-1 plans; insiders sold 119,750 shares over the last quarter.
• LendingClub beat earnings estimates in its latest quarter, reporting $0.44 EPS on $252.25 million in revenue, while analysts currently rate the stock a “Moderate Buy” with an average price target of $23.07.

Assenagon Asset Management S.A. lowered its position in LendingClub Corporation (NYSE:LC - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,692 shares of the credit services provider's stock after selling 189,597 shares during the quarter. Assenagon Asset Management S.A. owned about 0.26% of LendingClub worth $4,320,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LC. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of LendingClub by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,482 shares of the credit services provider's stock worth $357,000 after acquiring an additional 793 shares during the last quarter. Osaic Holdings Inc. grew its position in LendingClub by 8.8% in the 2nd quarter. Osaic Holdings Inc. now owns 13,354 shares of the credit services provider's stock valued at $160,000 after acquiring an additional 1,084 shares during the last quarter. ProShare Advisors LLC grew its position in LendingClub by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 20,704 shares of the credit services provider's stock valued at $392,000 after acquiring an additional 1,335 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in LendingClub by 13.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,533 shares of the credit services provider's stock worth $256,000 after purchasing an additional 1,645 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in LendingClub in the third quarter worth $26,000. Institutional investors own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 23,851 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.86, for a total value of $425,978.86. Following the completion of the sale, the chief executive officer owned 1,594,712 shares in the company, valued at approximately $28,481,556.32. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jordan Cheng sold 5,500 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $17.00, for a total transaction of $93,500.00. Following the completion of the sale, the general counsel directly owned 113,574 shares of the company's stock, valued at $1,930,758. The trade was a 4.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 119,750 shares of company stock worth $2,183,691. Company insiders own 3.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of LendingClub in a research note on Wednesday, May 6th. Stephens reaffirmed an "overweight" rating and issued a $22.50 price target (up from $21.00) on shares of LendingClub in a research note on Tuesday, April 28th. Finally, Zacks Research upgraded shares of LendingClub from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.07.

LendingClub Price Performance

Shares of NYSE LC opened at $19.21 on Tuesday. LendingClub Corporation has a twelve month low of $10.74 and a twelve month high of $21.67. The firm has a market cap of $2.22 billion, a PE ratio of 12.89 and a beta of 1.98. The business has a fifty day simple moving average of $17.34 and a two-hundred day simple moving average of $17.16.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.06. LendingClub had a return on equity of 11.92% and a net margin of 16.99%.The business had revenue of $252.25 million for the quarter, compared to the consensus estimate of $249.10 million. During the same quarter in the prior year, the company earned $0.10 EPS. The business's revenue was up 15.9% compared to the same quarter last year. LendingClub has set its FY 2026 guidance at 1.650-1.800 EPS and its Q2 2026 guidance at 0.400-0.450 EPS. On average, research analysts expect that LendingClub Corporation will post 1.74 earnings per share for the current year.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.

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