Jordan Cheng Sells 7,000 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC - Get Free Report) General Counsel Jordan Cheng sold 7,000 shares of the firm'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 of the company's stock, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

LendingClub Stock Down 4.4 %

Shares of LC traded down $0.58 during trading hours on Monday, reaching $12.45. The company's stock had a trading volume of 710,019 shares, compared to its average volume of 2,110,729. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The company has a 50 day moving average of $15.49 and a two-hundred day moving average of $13.88. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 27.50 and a beta of 2.01.

Analyst Ratings Changes

Several brokerages have commented on LC. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Finally, Piper Sandler reiterated an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research 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 company's stock. Based on data from MarketBeat, LendingClub presently has a consensus rating of "Moderate Buy" and an average price target of $16.38.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of LendingClub by 62.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 289,251 shares of the credit services provider's stock worth $4,683,000 after purchasing an additional 111,031 shares during the period. ProShare Advisors LLC boosted its stake in LendingClub by 50.8% in the fourth quarter. ProShare Advisors LLC now owns 31,128 shares of the credit services provider's stock worth $504,000 after purchasing an additional 10,490 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of LendingClub by 2.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider's stock valued at $29,779,000 after buying an additional 49,996 shares during the last quarter. Numerai GP LLC bought a new stake in LendingClub during the 4th quarter worth about $1,015,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of LendingClub in the fourth quarter worth about $434,000. 74.08% of the stock is owned by institutional investors.

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.