LendingClub Co. (NYSE:LC) Shares Purchased by Invesco Ltd.

Invesco Ltd. lifted its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 87.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 637,458 shares of the credit services provider's stock after purchasing an additional 296,813 shares during the period. Invesco Ltd. owned about 0.57% of LendingClub worth $10,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LC. Commonwealth Equity Services LLC grew its holdings in LendingClub by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock worth $441,000 after acquiring an additional 748 shares in the last quarter. FMR LLC lifted its stake in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after purchasing an additional 1,424 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after purchasing an additional 1,975 shares during the period. New York State Common Retirement Fund grew its holdings in shares of LendingClub by 7.3% during the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider's stock valued at $475,000 after purchasing an additional 2,000 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after acquiring an additional 2,448 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

LendingClub Trading Up 6.8 %

NYSE LC opened at $9.88 on Wednesday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 21.95 and a beta of 2.09. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75. The firm's 50 day simple moving average is $10.95 and its 200 day simple moving average is $13.67.

Insiders Place Their Bets

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the acquisition, the director now owns 148,018 shares in the company, valued at approximately $1,906,471.84. The trade was a 15.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,250 shares of company stock valued at $385,120. 3.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LC shares. Piper Sandler restated an "overweight" rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. 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 report on Wednesday, January 29th. StockNews.com raised LendingClub from a "sell" rating to a "hold" rating in a research note on Friday, April 4th. Finally, 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 report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, LendingClub presently has a consensus rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding LC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LendingClub Co. (NYSE:LC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.