Charles Schwab Investment Management Inc. Has $14.97 Million Stock Holdings in LendingClub Co. (NYSE:LC)

Charles Schwab Investment Management Inc. increased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 924,843 shares of the credit services provider's stock after acquiring an additional 23,486 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.82% of LendingClub worth $14,973,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of LendingClub by 2.2% during the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider's stock worth $44,541,000 after purchasing an additional 82,315 shares in the last quarter. Geode Capital Management LLC lifted its holdings in LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock worth $29,265,000 after acquiring an additional 42,429 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider's stock worth $17,686,000 after acquiring an additional 766,287 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after purchasing an additional 45,307 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of LendingClub by 21.6% during the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider's stock worth $9,584,000 after purchasing an additional 148,685 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

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Insider Activity at LendingClub

In other news, Director Michael P. Zeisser acquired 20,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were bought at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now owns 1,312,184 shares of the company's stock, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,000 shares of company stock valued at $606,660. Insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

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

LendingClub Trading Up 5.3 %

Shares of NYSE LC traded up $0.58 during mid-day trading on Monday, hitting $11.66. The company had a trading volume of 883,990 shares, compared to its average volume of 1,566,007. The firm has a 50-day simple moving average of $13.43 and a two-hundred day simple moving average of $13.91. The company has a market capitalization of $1.32 billion, a PE ratio of 25.92 and a beta of 2.07. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75.

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.