LendingClub Co. (NYSE:LC) CEO Scott Sanborn Sells 5,250 Shares

LendingClub Co. (NYSE:LC - Get Free Report) CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.30, for a total value of $54,075.00. Following the transaction, the chief executive officer now directly owns 1,298,925 shares of the company's stock, valued at $13,378,927.50. This represents a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $54,285.00.
• On Wednesday, April 9th, 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.

LendingClub Stock Performance

Shares of NYSE LC traded up $0.10 during mid-day trading on Monday, reaching $10.70. 923,442 shares of the company traded hands, compared to its average volume of 1,616,430. The stock has a market cap of $1.22 billion, a PE ratio of 23.78 and a beta of 2.41. The company's fifty day moving average is $10.05 and its two-hundred day moving average is $12.83. LendingClub Co. has a fifty-two week low of $7.81 and a fifty-two week high of $18.75.

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 analysts' consensus estimates of $0.10. The firm had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The company's revenue was up 21670.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. Research analysts forecast that LendingClub Co. will post 0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LC shares. Wall Street Zen downgraded LendingClub from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods reduced their target price 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 given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.29.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LC. Wellington Management Group LLP grew its holdings in LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after buying an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in LendingClub by 229.1% in the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock valued at $58,103,000 after buying an additional 2,498,318 shares during the last quarter. Nuveen LLC acquired a new stake in LendingClub in the 1st quarter valued at approximately $16,329,000. Balyasny Asset Management L.P. grew its holdings in shares of LendingClub by 196.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider's stock worth $34,505,000 after purchasing an additional 1,412,568 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of LendingClub by 158.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider's stock worth $24,647,000 after purchasing an additional 933,680 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

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.