LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng Sells 7,000 Shares

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

LendingClub Stock Performance

Shares of LendingClub stock traded down $0.58 during mid-day trading on Friday, hitting $13.02. 1,604,372 shares of the stock were exchanged, compared to its average volume of 2,154,167. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The company has a 50-day simple moving average of $15.56 and a 200 day simple moving average of $13.83. The company has a market capitalization of $1.48 billion, a P/E ratio of 28.92 and a beta of 2.00.

Hedge Funds Weigh In On LendingClub

Several hedge funds have recently modified their holdings of LC. Creative Planning lifted its position in shares of LendingClub by 20.3% during the 3rd quarter. Creative Planning now owns 33,695 shares of the credit services provider’s stock worth $385,000 after buying an additional 5,695 shares in the last quarter. Blue Trust Inc. lifted its position in shares of LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of LendingClub by 813.3% during the 3rd quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider’s stock worth $2,077,000 after buying an additional 161,837 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after buying an additional 828,958 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of LendingClub during the 3rd quarter worth approximately $562,000. Institutional investors own 74.08% of the company’s stock.

Analyst Ratings Changes

LC has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Maxim Group raised their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price target (up previously from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.