Jordan Cheng Sells 7,000 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the sale, the general counsel now directly owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

LendingClub Stock Performance

Shares of NYSE LC opened at $13.02 on Friday. The stock has a 50 day moving average price of $15.56 and a 200 day moving average price of $13.83. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The stock has a market capitalization of $1.48 billion, a PE ratio of 28.92 and a beta of 2.00.

Hedge Funds Weigh In On LendingClub

A number of hedge funds have recently added to or reduced their stakes in LC. Comerica Bank acquired a new stake in shares of LendingClub during the 4th quarter valued at $37,000. SBI Securities Co. Ltd. bought a new stake in LendingClub in the 4th quarter valued at about $45,000. Sterling Capital Management LLC increased 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 purchasing an additional 3,119 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,448 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of LendingClub by 32.1% in the 3rd 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. Institutional investors own 74.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on LC. Maxim Group lifted their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Compass Point lifted their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and a consensus price target of $16.38.

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.