LendingClub Corporation (NYSE:LC – Get Free Report) General Counsel Jordan Cheng sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $17.46, for a total transaction of $96,030.00. Following the sale, the general counsel directly owned 108,074 shares in the company, valued at $1,886,972.04. The trade was a 4.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jordan Cheng also recently made the following trade(s):
- On Thursday, May 28th, Jordan Cheng sold 5,500 shares of LendingClub stock. The stock was sold at an average price of $17.00, for a total transaction of $93,500.00.
LendingClub Stock Performance
LendingClub stock opened at $18.20 on Friday. The company’s fifty day moving average price is $16.41 and its 200 day moving average price is $17.10. LendingClub Corporation has a 1 year low of $10.41 and a 1 year high of $21.67. The stock has a market capitalization of $2.10 billion, a P/E ratio of 12.21 and a beta of 1.98.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of LC. Aster Capital Management DIFC Ltd purchased a new position in shares of LendingClub during the 3rd quarter worth $26,000. International Assets Investment Management LLC purchased a new position in shares of LendingClub during the 4th quarter worth $40,000. Kestra Advisory Services LLC purchased a new position in shares of LendingClub during the 4th quarter worth $44,000. Quarry LP raised its holdings in shares of LendingClub by 343.0% during the 3rd quarter. Quarry LP now owns 3,030 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 2,346 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of LendingClub during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have issued reports on LC. Stephens reaffirmed an “overweight” rating and set a $22.50 target price (up from $21.00) on shares of LendingClub in a research note on Tuesday, April 28th. Wall Street Zen cut shares of LendingClub from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Zacks Research raised shares of LendingClub from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LendingClub in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, LendingClub currently has an average rating of “Moderate Buy” and a consensus price target of $23.07.
Get Our Latest Stock Report on LC
About LendingClub
LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.
Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.
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