Point72 Asset Management L.P. Sells 909,410 Shares of LendingClub Co. (NYSE:LC)

Point72 Asset Management L.P. reduced its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 58.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 637,932 shares of the credit services provider's stock after selling 909,410 shares during the quarter. Point72 Asset Management L.P. owned 0.57% of LendingClub worth $10,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC grew its stake in shares of LendingClub by 50.8% in the fourth quarter. ProShare Advisors LLC now owns 31,128 shares of the credit services provider's stock worth $504,000 after purchasing an additional 10,490 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of LendingClub by 2.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider's stock worth $29,779,000 after purchasing an additional 49,996 shares during the last quarter. Numerai GP LLC bought a new stake in shares of LendingClub in the fourth quarter worth about $1,015,000. OMERS ADMINISTRATION Corp bought a new stake in shares of LendingClub in the fourth quarter worth about $434,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of LendingClub in the fourth quarter worth about $243,000. 74.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

LC has been the subject of several research analyst reports. Wall Street Zen lowered shares of LendingClub from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. 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 report on Monday, March 10th. Keefe, Bruyette & Woods lowered their price objective on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Piper Sandler restated an "overweight" rating and issued a $19.00 price objective (down 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 assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.75.

LendingClub Stock Down 1.2%

Shares of LC stock traded down $0.13 during trading hours on Friday, hitting $9.89. 892,903 shares of the company's stock traded hands, compared to its average volume of 1,615,195. The stock's fifty day simple moving average is $10.21 and its two-hundred day simple moving average is $13.24. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 21.97 and a beta of 2.35.

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

Insider Activity

In related news, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $10.65, for a total transaction of $55,912.50. Following the completion of the sale, the chief executive officer now owns 1,287,282 shares of the company's stock, valued at $13,709,553.30. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average cost of $9.35 per share, with a total value of $187,000.00. Following the transaction, the director now directly owns 174,138 shares of the company's stock, valued at $1,628,190.30. This represents a 12.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 21,000 shares of company stock worth $215,198. Insiders own 3.19% of the company's stock.

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.