JPMorgan Chase & Co. Has $9.46 Million Stock Position in LendingClub Co. (NYSE:LC)

JPMorgan Chase & Co. trimmed its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,155 shares of the credit services provider's stock after selling 413,993 shares during the period. JPMorgan Chase & Co. owned about 0.52% of LendingClub worth $9,457,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LC. Prudential Financial Inc. raised its holdings in shares of LendingClub by 29.4% in the fourth quarter. Prudential Financial Inc. now owns 692,439 shares of the credit services provider's stock worth $11,211,000 after acquiring an additional 157,500 shares during the last quarter. LPL Financial LLC purchased a new position in shares of LendingClub during the fourth quarter valued at approximately $594,000. KLP Kapitalforvaltning AS acquired a new stake in shares of LendingClub during the fourth quarter worth $397,000. American Century Companies Inc. boosted its position in shares of LendingClub by 9.3% in 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 acquiring an additional 160,916 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of LendingClub during the 4th quarter valued at $238,000. Institutional investors and hedge funds own 74.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler restated an "overweight" rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. StockNews.com raised shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, 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 report on Monday, March 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.00.

LendingClub Stock Up 1.1 %

LC stock traded up $0.11 during mid-day trading on Friday, reaching $9.49. 1,025,863 shares of the stock traded hands, compared to its average volume of 1,621,654. The business has a 50-day moving average of $11.10 and a two-hundred day moving average of $13.70. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The firm has a market capitalization of $1.08 billion, a PE ratio of 21.08 and a beta of 2.09.

Insider Activity

In related news, CEO Scott Sanborn sold 5,250 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total transaction of $52,500.00. Following the completion of the transaction, the chief executive officer now owns 1,303,032 shares in the company, valued at approximately $13,030,320. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Zeisser acquired 20,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were acquired 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 in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 29,250 shares of company stock worth $385,120. Corporate insiders own 3.31% of the company's stock.

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.