30,672 Shares in LendingClub Co. (NYSE:LC) Purchased by Optimize Financial Inc

Optimize Financial Inc bought a new position in shares of LendingClub Co. (NYSE:LC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,672 shares of the credit services provider's stock, valued at approximately $497,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of LendingClub in the 4th quarter worth $45,000. Sterling Capital Management LLC lifted its stake in LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after buying an additional 3,119 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of LendingClub by 150.6% in the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after buying an additional 2,448 shares during the period. FMR LLC increased its position in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after acquiring an additional 1,975 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

Insider Activity at LendingClub

In other LendingClub news, Director Michael P. Zeisser bought 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average price 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the completion of the transaction, the chief executive officer now directly owns 1,295,184 shares in the company, valued at approximately $17,821,731.84. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,250 shares of company stock valued at $385,120. Corporate insiders own 3.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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 data from MarketBeat.com, LendingClub currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

LendingClub Trading Up 1.1 %

NYSE LC traded up $0.11 during trading on Thursday, hitting $9.49. 1,025,863 shares of the company traded hands, compared to its average volume of 1,616,903. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The business has a fifty day simple moving average of $11.25 and a 200 day simple moving average of $13.70. The company has a market capitalization of $1.08 billion, a P/E ratio of 21.08 and a beta of 2.09.

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.