Alliancebernstein L.P. Purchases 10,978 Shares of LendingClub Co. (NYSE:LC)

Alliancebernstein L.P. lifted its stake in shares of LendingClub Co. (NYSE:LC) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 115,198 shares of the credit services provider’s stock after acquiring an additional 10,978 shares during the quarter. Alliancebernstein L.P.’s holdings in LendingClub were worth $1,865,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in 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 acquiring an additional 1,424 shares during the last quarter. State Street Corp grew its position in LendingClub by 2.2% during the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after purchasing an additional 82,315 shares during the last quarter. XTX Topco Ltd increased its position in shares of LendingClub by 55.4% during 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 in the last quarter. Barclays PLC boosted its position in shares of LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock valued at $2,582,000 after buying an additional 152,224 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of LendingClub by 1.7% during the 3rd 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. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of the stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $12.88 per share, with a total value of $257,600.00. Following the transaction, the director now owns 148,018 shares of the company’s stock, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total transaction of $52,500.00. Following the completion of the transaction, the chief executive officer now owns 1,303,032 shares in the company, valued at approximately $13,030,320. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,250 shares of company stock valued at $385,120 over the last 90 days. 3.31% of the stock is owned by company insiders.

LendingClub Stock Performance

NYSE:LC opened at $9.49 on Friday. The stock has a 50 day moving average price of $11.17 and a 200 day moving average price of $13.69. The stock has a market cap of $1.08 billion, a PE ratio of 21.08 and a beta of 2.09. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LC shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price target (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 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Finally, StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Friday, April 4th. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

LendingClub Company 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.