Sompo Asset Management Co. Ltd. bought a new stake in LendingClub Co. (NYSE:LC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,980 shares of the credit services provider's stock, valued at approximately $631,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LC. FMR LLC grew its holdings in 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 purchasing an additional 1,424 shares in the last quarter. Barclays PLC raised its stake in shares of LendingClub by 206.6% in the 3rd quarter. Barclays PLC now owns 225,902 shares of the credit services provider's stock valued at $2,582,000 after purchasing an additional 152,224 shares in the last quarter. Geode Capital Management LLC grew its position in shares of LendingClub by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock worth $29,265,000 after acquiring an additional 42,429 shares in the last quarter. JPMorgan Chase & Co. raised its stake in LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after acquiring an additional 45,307 shares during the period. Finally, Range Financial Group LLC bought a new position in LendingClub during the 4th quarter worth $1,510,000. Institutional investors and hedge funds own 74.08% of the company's stock.
Wall Street Analyst Weigh In
LC has been the topic of a number of recent analyst reports. StockNews.com raised LendingClub from a "sell" rating to a "hold" rating in a report on Friday, April 4th. JPMorgan Chase & Co. dropped their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.00.
Get Our Latest Stock Report on LendingClub
LendingClub Price Performance
Shares of LC opened at $9.88 on Wednesday. The company's fifty day moving average price is $10.95 and its 200 day moving average price is $13.67. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75. The company has a market capitalization of $1.13 billion, a PE ratio of 21.95 and a beta of 2.09.
Insider Buying and Selling at LendingClub
In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, with a total value of $257,600.00. Following the completion of the acquisition, the director now directly owns 148,018 shares of the company's stock, valued at $1,906,471.84. This represents a 15.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,250 shares of company stock valued at $385,120. 3.31% of the stock is currently owned by corporate insiders.
About LendingClub
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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.
See Also
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).
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