Sompo Asset Management Co. Ltd. Takes $631,000 Position in LendingClub Co. (NYSE:LC)

Sompo Asset Management Co. Ltd. purchased a new position in shares of LendingClub Co. (NYSE:LC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 38,980 shares of the credit services provider's stock, valued at approximately $631,000.

Several other institutional investors have also recently bought and sold shares of LC. Commonwealth Equity Services LLC raised its position in shares of LendingClub by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock worth $441,000 after purchasing an additional 748 shares during the period. Summit Investment Advisors Inc. raised its holdings 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 in the last quarter. FMR LLC increased its holdings in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after buying an additional 1,424 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after purchasing an additional 1,975 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in LendingClub by 7.3% in the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider's stock valued at $475,000 after buying an additional 2,000 shares during the period. Institutional investors own 74.08% of the company's stock.

LendingClub Stock Performance

LC traded down $0.20 during mid-day trading on Monday, reaching $10.76. 370,891 shares of the stock were exchanged, compared to its average volume of 1,621,702. The company has a 50 day moving average price of $10.74 and a two-hundred day moving average price of $13.66. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75. The stock has a market capitalization of $1.23 billion, a PE ratio of 23.91 and a beta of 2.09.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now owns 1,303,032 shares in the company, valued at $13,030,320. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Zeisser purchased 20,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now owns 148,018 shares of the company's stock, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 34,500 shares of company stock worth $439,405. Insiders own 3.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. StockNews.com upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. JPMorgan Chase & Co. dropped their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.00.

LendingClub 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.