Proficio Capital Partners LLC Takes Position in LendingClub Co. (NYSE:LC)

Proficio Capital Partners LLC acquired a new stake in shares of LendingClub Co. (NYSE:LC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,993 shares of the credit services provider’s stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of LendingClub by 21.6% during the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock worth $9,584,000 after purchasing an additional 148,685 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after acquiring an additional 45,307 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of LendingClub in the third quarter worth approximately $237,000. Quantbot Technologies LP grew its holdings in LendingClub by 153.2% in the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock valued at $1,815,000 after purchasing an additional 96,053 shares during the period. Finally, Alpha DNA Investment Management LLC acquired a new position in LendingClub during the third quarter worth approximately $411,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm’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 value of $98,700.00. Following the sale, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock valued at $606,660 over the last 90 days. 3.31% of the stock is owned by corporate insiders.

LendingClub Price Performance

Shares of LC opened at $11.66 on Tuesday. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The stock has a market cap of $1.32 billion, a PE ratio of 25.92 and a beta of 2.07. The stock’s 50-day moving average is $13.37 and its two-hundred day moving average is $13.91.

Analysts Set New Price Targets

LC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of 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 reiterated an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.