Renaissance Technologies LLC boosted its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 97.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 345,420 shares of the credit services provider's stock after acquiring an additional 170,715 shares during the period. Renaissance Technologies LLC owned about 0.31% of LendingClub worth $5,592,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. FMR LLC raised its holdings 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 in the last quarter. Barclays PLC lifted its position in LendingClub by 206.6% in the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider's stock valued at $2,582,000 after acquiring an additional 152,224 shares during the last quarter. Geode Capital Management LLC lifted its position in LendingClub by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock valued at $29,265,000 after acquiring an additional 42,429 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in LendingClub by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock valued at $11,409,000 after acquiring an additional 45,307 shares in the last quarter. Finally, Range Financial Group LLC purchased a new position in shares of LendingClub during the fourth quarter worth about $1,510,000. 74.08% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on LC shares. StockNews.com upgraded LendingClub from a "sell" rating to a "hold" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. dropped their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.
Get Our Latest Research Report on LC
LendingClub Trading Up 6.2 %
Shares of NYSE:LC traded up $0.64 during midday trading on Thursday, hitting $10.89. 797,246 shares of the stock were exchanged, compared to its average volume of 1,749,423. The stock has a market cap of $1.24 billion, a P/E ratio of 24.19 and a beta of 2.09. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The company has a 50 day moving average price of $10.88 and a 200-day moving average price of $13.65.
Insiders Place Their Bets
In other news, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the sale, the chief executive officer now directly owns 1,303,032 shares in the company, valued at $13,030,320. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the sale, the general counsel now owns 88,263 shares of the company's stock, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,250 shares of company stock worth $385,120. Insiders own 3.31% of the company's stock.
About LendingClub
(
Free Report)
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.
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