Charles Schwab Investment Management Inc. Boosts Holdings in LendingClub Co. (NYSE:LC)

Charles Schwab Investment Management Inc. lifted its stake in LendingClub Co. (NYSE:LC) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 924,843 shares of the credit services provider’s stock after purchasing an additional 23,486 shares during the period. Charles Schwab Investment Management Inc.’s holdings in LendingClub were worth $14,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LC. SBI Securities Co. Ltd. purchased a new position in LendingClub during the 4th quarter valued at about $45,000. FMR LLC lifted its position 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 acquiring an additional 1,424 shares during the period. Jones Financial Companies Lllp lifted its position in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,975 shares during the period. Sanctuary Advisors LLC purchased a new position in LendingClub during the 4th quarter valued at about $164,000. Finally, Vontobel Holding Ltd. purchased a new position in LendingClub during the 4th quarter valued at about $166,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Stock Down 0.2 %

Shares of LC stock opened at $11.08 on Friday. The company has a 50 day moving average price of $13.51 and a 200-day moving average price of $13.88. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The firm has a market capitalization of $1.26 billion, a PE ratio of 24.61 and a beta of 2.07.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LC shares. JPMorgan Chase & Co. lowered their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction that occurred 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 directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total transaction of $233,920.00. Following the sale, the chief executive officer now owns 1,295,184 shares of the company’s stock, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock worth $606,660 over the last three months. 3.31% of the stock is currently owned by company insiders.

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.