Canada Pension Plan Investment Board Raises Position in LendingClub Co. (NYSE:LC)

Canada Pension Plan Investment Board increased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 105.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,800 shares of the credit services provider's stock after purchasing an additional 99,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.17% of LendingClub worth $3,138,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of LendingClub during the 4th quarter worth $2,035,000. EAM Investors LLC acquired a new stake in shares of LendingClub in the fourth quarter valued at about $2,850,000. Senvest Management LLC boosted its holdings in LendingClub by 3.4% during the fourth quarter. Senvest Management LLC now owns 1,529,587 shares of the credit services provider's stock worth $24,764,000 after buying an additional 50,000 shares in the last quarter. Mariner LLC grew its position in LendingClub by 44.0% during the fourth quarter. Mariner LLC now owns 17,476 shares of the credit services provider's stock worth $283,000 after buying an additional 5,340 shares during the period. Finally, Barclays PLC increased its holdings in LendingClub by 117.7% in the fourth quarter. Barclays PLC now owns 491,729 shares of the credit services provider's stock valued at $7,962,000 after buying an additional 265,827 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler restated an "overweight" rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. StockNews.com raised LendingClub from a "sell" rating to a "hold" rating in a report on Friday, April 4th. JPMorgan Chase & Co. cut their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Insider Activity

In related news, General Counsel Jordan Cheng sold 7,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the transaction, the general counsel now directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the purchase, the director now owns 148,018 shares in the company, valued at $1,906,471.84. The trade was a 15.62 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 29,250 shares of company stock valued at $385,120 over the last 90 days. Insiders own 3.31% of the company's stock.

LendingClub Trading Up 6.8 %

Shares of LC stock opened at $9.88 on Wednesday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 21.95 and a beta of 2.09. The firm has a 50-day moving average price of $10.95 and a 200 day moving average price of $13.67. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75.

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.

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