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

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

A number of other hedge funds also recently made changes to their positions in the business. ProShare Advisors LLC raised its holdings in LendingClub by 50.8% in the 4th quarter. ProShare Advisors LLC now owns 31,128 shares of the credit services provider's stock valued at $504,000 after acquiring an additional 10,490 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of LendingClub by 2.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider's stock valued at $29,779,000 after buying an additional 49,996 shares during the last quarter. Numerai GP LLC acquired a new position in shares of LendingClub in the 4th quarter valued at about $1,015,000. OMERS ADMINISTRATION Corp acquired a new position in LendingClub during the 4th quarter worth approximately $434,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in LendingClub during the 4th quarter worth approximately $243,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Wall Street Zen lowered LendingClub from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $15.75.

LendingClub Price Performance

Shares of LendingClub stock traded down $0.13 during trading hours on Friday, reaching $9.89. The company had a trading volume of 892,903 shares, compared to its average volume of 1,610,590. LendingClub Co. has a one year low of $7.81 and a one year high of $18.75. The business has a fifty day simple moving average of $10.21 and a 200 day simple moving average of $13.26. The firm has a market cap of $1.13 billion, a PE ratio of 21.97 and a beta of 2.35.

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

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $10.34, for a total transaction of $54,285.00. Following the sale, the chief executive officer now directly owns 1,297,782 shares of the company's stock, valued at approximately $13,419,065.88. The trade was a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael P. Zeisser acquired 20,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the transaction, the director now owns 174,138 shares in the company, valued at approximately $1,628,190.30. This represents a 12.98% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 21,000 shares of company stock valued at $215,198. 3.19% of the stock is currently owned by insiders.

LendingClub 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.