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

LendingClub Corporation (NYSE:LC - Get Free Report) CEO Scott Sanborn sold 5,250 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $12.98, for a total transaction of $68,145.00. Following the sale, the chief executive officer directly owned 1,283,175 shares in the company, valued at $16,655,611.50. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, July 3rd, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $12.56, for a total transaction of $65,940.00.
• On Friday, June 20th, Scott Sanborn sold 5,250 shares of LendingClub stock. The stock was sold at an average price of $11.15, for a total transaction 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 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.

LendingClub Price Performance

Shares of NYSE LC traded down $0.19 during midday trading on Monday, hitting $12.86. 545,942 shares of the company's stock were exchanged, compared to its average volume of 1,633,655. LendingClub Corporation has a twelve month low of $7.90 and a twelve month high of $18.75. The company has a market cap of $1.47 billion, a PE ratio of 29.22 and a beta of 2.44. The firm's fifty day simple moving average is $11.28 and its 200-day simple moving average is $11.92.

LendingClub (NYSE:LC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. LendingClub had a return on equity of 4.04% and a net margin of 6.16%. The company had revenue of $217.71 million for the quarter, compared to the consensus estimate of $213.71 million. During the same period last year, the business posted $0.11 EPS. The company's revenue was up 21670.0% on a year-over-year basis. Equities analysts anticipate that LendingClub Corporation will post 0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on LC shares. Stephens started coverage on LendingClub in a research report on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price target for the company. Wall Street Zen downgraded LendingClub from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Citigroup started coverage on LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Citizens Jmp started coverage on LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods lowered their price target on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LC. Commonwealth Equity Services LLC increased its stake in LendingClub by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock valued at $441,000 after purchasing an additional 748 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in LendingClub by 9.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider's stock worth $187,000 after acquiring an additional 984 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in LendingClub by 1.2% during the first quarter. SummerHaven Investment Management LLC now owns 90,565 shares of the credit services provider's stock worth $935,000 after acquiring an additional 1,066 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in LendingClub by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,230 shares of the credit services provider's stock worth $178,000 after acquiring an additional 1,730 shares during the last quarter. Finally, Optimize Financial Inc increased its stake in LendingClub by 6.4% during the first quarter. Optimize Financial Inc now owns 32,628 shares of the credit services provider's stock worth $337,000 after acquiring an additional 1,956 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.