LendingClub Co. (NYSE:LC) Stake Trimmed by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 43.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 853,500 shares of the credit services provider's stock after selling 664,486 shares during the period. Assenagon Asset Management S.A. owned about 0.76% of LendingClub worth $13,818,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its position in shares of LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after acquiring an additional 1,424 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of LendingClub by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider's stock worth $2,562,000 after purchasing an additional 1,445 shares during the period. AlphaMark Advisors LLC bought a new position in shares of LendingClub in the 3rd quarter worth about $32,000. Hsbc Holdings PLC lifted its position in shares of LendingClub by 38.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider's stock worth $141,000 after buying an additional 4,640 shares during the last quarter. Finally, Aigen Investment Management LP boosted its holdings in shares of LendingClub by 18.5% in the 3rd quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider's stock valued at $361,000 after buying an additional 4,917 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LC has been the topic of a number of recent research reports. Wedbush raised their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Piper Sandler raised their price target on LendingClub from $15.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. restated a "neutral" rating and set a $17.00 price objective (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. StockNews.com lowered LendingClub from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of LendingClub from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. One investment 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.63.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares of the company's stock, valued at $21,152,406.08. The trade was a 1.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the sale, the general counsel now directly owns 89,385 shares of the company's stock, valued at approximately $1,325,579.55. This represents a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock worth $1,158,610 over the last quarter. 3.31% of the stock is currently owned by company insiders.

LendingClub Price Performance

Shares of LC traded up $0.35 during trading hours on Friday, reaching $16.68. 755,411 shares of the company's stock traded hands, compared to its average volume of 1,737,184. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The business's fifty day simple moving average is $16.16 and its two-hundred day simple moving average is $13.10. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 36.25 and a beta of 2.03.

LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. The firm had revenue of $201.90 million for the quarter, compared to analysts' expectations of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. LendingClub's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. On average, equities research analysts expect that LendingClub Co. will post 0.47 EPS for the current year.

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.