LendingClub Co. (NYSE:LC) CEO Sells $54,075.00 in Stock

LendingClub Co. (NYSE:LC - Get Free Report) CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $10.30, for a total transaction of $54,075.00. Following the transaction, the chief executive officer now owns 1,298,925 shares of the company's stock, valued at approximately $13,378,927.50. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction 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 transaction 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 shares were sold at an average price of $10.00, for a total transaction of $52,500.00.

LendingClub Price Performance

Shares of LC traded up $0.46 during trading hours on Friday, hitting $10.62. The stock had a trading volume of 851,000 shares, compared to its average volume of 1,615,921. The company's fifty day moving average is $10.05 and its two-hundred day moving average is $12.91. LendingClub Co. has a 52 week low of $7.81 and a 52 week high of $18.75. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 23.59 and a beta of 2.41.

LendingClub (NYSE:LC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. 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 prior year, the firm earned $0.11 EPS. The firm's quarterly revenue was up 21670.0% compared to the same quarter last year. Equities analysts predict that LendingClub Co. will post 0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On LendingClub

Several large investors have recently made changes to their positions in the company. Quarry LP grew its holdings in LendingClub by 1,427.2% during the 1st quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock worth $29,000 after acquiring an additional 2,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in LendingClub during the 1st quarter worth about $35,000. Comerica Bank bought a new stake in LendingClub during the 4th quarter worth about $37,000. SBI Securities Co. Ltd. bought a new stake in LendingClub during the 4th quarter worth about $45,000. Finally, Sterling Capital Management LLC grew its holdings in LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after acquiring an additional 3,119 shares during the last quarter. Institutional investors own 74.08% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LC shares. Keefe, Bruyette & Woods dropped their price objective on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Finally, Wall Street Zen cut shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

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.