LendingClub Corporation (NYSE:LC) CEO Sells $65,940.00 in Stock

LendingClub Corporation (NYSE:LC - Get Free Report) CEO Scott Sanborn sold 5,250 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $12.56, for a total transaction of $65,940.00. Following the completion of the sale, the chief executive officer owned 1,288,425 shares of the company's stock, valued at approximately $16,182,618. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, June 20th, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were sold at an average price of $11.15, for a total value of $58,537.50.
• On Thursday, June 5th, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $10.30, for a total transaction of $54,075.00.
• On Thursday, May 15th, Scott Sanborn sold 5,250 shares of LendingClub stock. The shares were 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 shares were 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 shares were sold at an average price of $10.34, for a total transaction 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 transaction of $52,500.00.

LendingClub Stock Up 1.2%

LendingClub stock traded up $0.15 during mid-day trading on Tuesday, hitting $12.40. 1,166,575 shares of the company's stock traded hands, compared to its average volume of 1,636,006. The firm has a 50 day moving average price of $10.85 and a 200 day moving average price of $12.16. The company has a market cap of $1.42 billion, a PE ratio of 28.18 and a beta of 2.44. LendingClub Corporation has a one year low of $7.90 and a one year high of $18.75.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. LendingClub had a net margin of 6.16% and a return on equity of 4.04%. The business had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The firm's revenue was up 21670.0% compared to the same quarter last year. On average, analysts expect that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

Institutional Trading of LendingClub

Several institutional investors have recently modified their holdings of the company. Quarry LP raised its position in shares of LendingClub by 1,427.2% during the first quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock worth $29,000 after purchasing an additional 2,626 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of LendingClub during the first quarter worth $35,000. Comerica Bank bought a new position in shares of LendingClub during the fourth quarter valued at $37,000. SBI Securities Co. Ltd. acquired a new stake in LendingClub during the 4th quarter valued at approximately $45,000. Finally, Sterling Capital Management LLC boosted its position in shares of LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after purchasing an additional 3,119 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citizens Jmp assumed coverage on shares of LendingClub in a research note on Monday. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods dropped their price target on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen raised shares of LendingClub from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Stephens assumed coverage on shares of LendingClub in a research note on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.13.

About LendingClub

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.