Analysts Set LendingClub Co. (NYSE:LC) PT at $16.00

LendingClub Co. (NYSE:LC) has been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $16.00.

A number of analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th.

LendingClub Stock Performance

LC opened at $11.66 on Friday. The firm has a market capitalization of $1.32 billion, a PE ratio of 25.92 and a beta of 2.07. The company has a fifty day moving average price of $13.37 and a two-hundred day moving average price of $13.91. LendingClub has a 52 week low of $7.48 and a 52 week high of $18.75.

Insider Transactions at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the sale, the chief executive officer now directly owns 1,295,184 shares in the company, valued at approximately $17,821,731.84. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, the general counsel now owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,000 shares of company stock valued at $606,660. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in LendingClub by 2.2% during the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after buying an additional 82,315 shares in the last quarter. Wellington Management Group LLP lifted its holdings in LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after purchasing an additional 2,961,050 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of LendingClub by 229.1% in the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock valued at $58,103,000 after acquiring an additional 2,498,318 shares during the period. Geode Capital Management LLC grew its position in LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after buying an additional 42,429 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in LendingClub by 196.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock worth $34,505,000 after buying an additional 1,412,568 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

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.