Pictet Asset Management Holding SA Sells 68,597 Shares of LendingClub Corporation $LC

Key Points

• Pictet Asset Management Holding SA reduced its stake in LendingClub by 80.5% in the first quarter, selling 68,597 shares and leaving it with 16,607 shares worth about $238,000.
• LendingClub posted better-than-expected Q1 results, with EPS of $0.44 versus $0.38 expected and revenue of $252.25 million, up 15.9% year over year. The company also guided FY2026 EPS to 1.65-1.80.
• Analyst sentiment remains constructive, with a Moderate Buy consensus and an average price target of $23.07, while insiders have been selling shares recently, including the CFO and an SVP under pre-arranged trading plans.

Pictet Asset Management Holding SA cut its stake in shares of LendingClub Corporation (NYSE:LC - Free Report) by 80.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,607 shares of the credit services provider's stock after selling 68,597 shares during the period. Pictet Asset Management Holding SA's holdings in LendingClub were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of LC. Fuller & Thaler Asset Management Inc. purchased a new position in shares of LendingClub in the 4th quarter worth approximately $63,580,000. Azora Capital LP raised its holdings in LendingClub by 258.2% during the 3rd quarter. Azora Capital LP now owns 2,391,190 shares of the credit services provider's stock valued at $36,322,000 after buying an additional 1,723,658 shares during the period. Wellington Management Group LLP raised its holdings in LendingClub by 18.8% during the 3rd quarter. Wellington Management Group LLP now owns 7,960,550 shares of the credit services provider's stock valued at $120,921,000 after buying an additional 1,261,861 shares during the period. Marshall Wace LLP lifted its position in LendingClub by 1,232.2% in the third quarter. Marshall Wace LLP now owns 735,821 shares of the credit services provider's stock worth $11,177,000 after buying an additional 680,589 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in LendingClub by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 11,697,333 shares of the credit services provider's stock worth $221,547,000 after buying an additional 516,542 shares during the last quarter. 74.08% of the stock is owned by institutional investors.

LendingClub Stock Performance

Shares of NYSE LC opened at $19.21 on Monday. LendingClub Corporation has a fifty-two week low of $10.74 and a fifty-two week high of $21.67. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 12.89 and a beta of 1.98. The business's 50 day moving average price is $17.68 and its 200-day moving average price is $17.14.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CFO Andrew Labenne sold 20,000 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $17.00, for a total transaction of $340,000.00. Following the completion of the sale, the chief financial officer directly owned 234,955 shares of the company's stock, valued at approximately $3,994,235. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Fergal Stack sold 60,000 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $19.00, for a total transaction of $1,140,000.00. Following the sale, the senior vice president directly owned 204,977 shares of the company's stock, valued at $3,894,563. This represents a 22.64% decrease in their ownership of the stock. 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. Insiders have sold a total of 119,750 shares of company stock valued at $2,183,691 in the last three months. 3.19% of the stock is owned by company insiders.

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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