Proficio Capital Partners LLC Makes New $453,000 Investment in LendingClub Co. (NYSE:LC)

Proficio Capital Partners LLC purchased a new position in LendingClub Co. (NYSE:LC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 27,993 shares of the credit services provider's stock, valued at approximately $453,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LC. FMR LLC increased its position in shares of LendingClub by 32.1% in the 3rd 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 grew its position in shares of LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after buying an additional 1,975 shares during the last quarter. New York State Common Retirement Fund raised its stake in 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 worth $475,000 after acquiring an additional 2,000 shares during the period. SBI Securities Co. Ltd. bought a new position in LendingClub in the fourth quarter worth about $45,000. Finally, XTX Topco Ltd boosted its stake in LendingClub by 55.4% in the third quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider's stock valued at $226,000 after acquiring an additional 7,054 shares during the period. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Activity

In related news, Director Michael P. Zeisser acquired 20,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now owns 148,018 shares in the company, valued at $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,000 shares of company stock worth $606,660 over the last 90 days. 3.31% of the stock is owned by company insiders.

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LendingClub Trading Down 4.1 %

Shares of NYSE LC traded down $0.45 during mid-day trading on Friday, reaching $10.40. The company had a trading volume of 1,032,854 shares, compared to its average volume of 1,613,385. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The stock has a market cap of $1.18 billion, a PE ratio of 23.12 and a beta of 2.07. The company has a 50-day moving average price of $13.08 and a two-hundred day moving average price of $13.87.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods restated an "outperform" rating and set a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Finally, Piper Sandler restated an "overweight" rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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.