LendingClub Co. (NYSE:LC) Shares Sold by Jackson Square Partners LLC

Jackson Square Partners LLC lessened its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,840,376 shares of the credit services provider's stock after selling 583,129 shares during the quarter. LendingClub comprises 4.9% of Jackson Square Partners LLC's holdings, making the stock its biggest position. Jackson Square Partners LLC owned 2.53% of LendingClub worth $45,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LC. Point72 Asset Management L.P. grew its position in LendingClub by 98.1% during the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider's stock valued at $17,686,000 after buying an additional 766,287 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of LendingClub during the 4th quarter worth approximately $9,788,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in LendingClub by 1,227.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,110 shares of the credit services provider's stock valued at $6,138,000 after buying an additional 350,548 shares during the period. SG Americas Securities LLC raised its position in LendingClub by 699.5% in the fourth quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider's stock valued at $5,160,000 after purchasing an additional 278,879 shares during the period. Finally, American Century Companies Inc. increased its stake in LendingClub by 9.3% during the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock worth $30,691,000 after purchasing an additional 160,916 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

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LendingClub Stock Down 4.1 %

Shares of LC stock traded down $0.45 on Friday, reaching $10.40. 1,032,854 shares of the stock were exchanged, compared to its average volume of 1,611,491. The stock has a market cap of $1.18 billion, a P/E ratio of 23.12 and a beta of 2.07. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The firm has a 50 day moving average of $12.95 and a two-hundred day moving average of $13.89.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value 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 approximately $21,152,406.08. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,000 shares of company stock worth $606,660. 3.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LC shares. JPMorgan Chase & Co. cut their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Piper Sandler reissued an "overweight" rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, 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 report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, LendingClub has an average rating of "Moderate Buy" and an average target price of $16.00.

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.