KLP Kapitalforvaltning AS Buys Shares of 24,540 LendingClub Co. (NYSE:LC)

KLP Kapitalforvaltning AS purchased a new position in shares of LendingClub Co. (NYSE:LC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,540 shares of the credit services provider’s stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LC. State Street Corp grew its holdings 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 worth $44,541,000 after acquiring an additional 82,315 shares in the last quarter. Geode Capital Management LLC grew its stake in LendingClub by 1.7% in 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 purchasing an additional 42,429 shares in the last quarter. American Century Companies Inc. grew its stake in LendingClub by 9.3% in the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock worth $30,691,000 after purchasing an additional 160,916 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after buying an additional 766,287 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after buying an additional 45,307 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

Insider Buying and Selling at LendingClub

In related news, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $12.88 per share, with a total value of $257,600.00. Following the purchase, the director now owns 148,018 shares in the company, valued at approximately $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now owns 88,263 shares in the company, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.31% of the stock is owned by company insiders.

LendingClub Stock Down 8.0 %

Shares of NYSE:LC opened at $8.68 on Friday. The company’s 50-day moving average price is $12.25 and its 200 day moving average price is $13.85. The company has a market cap of $983.61 million, a PE ratio of 19.28 and a beta of 2.07. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LC shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Finally, StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.