LendingClub Corporation (NYSE:LC) CEO Sells $58,537.50 in Stock

LendingClub Corporation (NYSE:LC - Get Free Report) CEO Scott Sanborn sold 5,250 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $11.15, for a total transaction of $58,537.50. Following the transaction, the chief executive officer now directly owns 1,293,675 shares of the company's stock, valued at $14,424,476.25. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 stock was sold at an average price of $10.65, for a total transaction of $55,912.50.
• On Thursday, May 1st, 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.
• On Wednesday, April 23rd, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was 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 2.8%

Shares of LC traded up $0.33 during mid-day trading on Thursday, reaching $11.95. 1,603,613 shares of the company's stock were exchanged, compared to its average volume of 1,623,008. The company has a 50-day simple moving average of $10.51 and a two-hundred day simple moving average of $12.46. LendingClub Corporation has a 52-week low of $7.90 and a 52-week high of $18.75. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 27.15 and a beta of 2.41.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $213.71 million. During the same period last year, the company posted $0.11 EPS. The company's revenue was up 21670.0% on a year-over-year basis. As a group, equities research analysts predict that LendingClub Corporation will post 0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LC. Bank of America Corp DE boosted its position in LendingClub by 111.5% during the fourth quarter. Bank of America Corp DE now owns 402,033 shares of the credit services provider's stock worth $6,509,000 after acquiring an additional 211,979 shares during the last quarter. Victory Capital Management Inc. boosted its position in LendingClub by 301.0% during the fourth quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock worth $885,000 after acquiring an additional 41,048 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in LendingClub during the fourth quarter worth approximately $1,696,000. Invesco Ltd. boosted its position in LendingClub by 87.1% during the fourth quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider's stock worth $10,320,000 after acquiring an additional 296,813 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in LendingClub by 62.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 289,251 shares of the credit services provider's stock worth $4,683,000 after acquiring an additional 111,031 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their target price 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. Wall Street Zen raised shares of LendingClub from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. JPMorgan Chase & Co. dropped their target price 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. Finally, Stephens assumed coverage on shares of LendingClub in a report on Thursday, June 12th. They issued an "overweight" rating and a $15.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.13.

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.