Brokerages Set LendingClub Corporation (NYSE:LC) Price Target at $23.07

Shares of LendingClub Corporation (NYSE:LC) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.0714.

LC has been the subject of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $22.50 price target (up from $21.00) on shares of LendingClub in a research note on Tuesday, April 28th. Zacks Research upgraded shares of LendingClub from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of LendingClub in a report on Wednesday, May 6th.

LendingClub Price Performance

Shares of LC opened at $19.21 on Tuesday. The firm has a market capitalization of $2.22 billion, a PE ratio of 12.89 and a beta of 1.98. The firm has a 50-day moving average price of $18.82 and a 200 day moving average price of $17.06. LendingClub has a 52-week low of $10.74 and a 52-week high of $21.67.

Insider Transactions at LendingClub

In other news, CFO Andrew Labenne sold 20,000 shares of LendingClub stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $17.00, for a total transaction of $340,000.00. Following the transaction, the chief financial officer directly owned 234,955 shares in the company, valued at approximately $3,994,235. This trade represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Sanborn sold 23,851 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.86, for a total value of $425,978.86. Following the completion of the sale, the chief executive officer owned 1,594,712 shares of the company’s stock, valued at approximately $28,481,556.32. This trade represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 119,750 shares of company stock valued at $2,183,691. Company insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of LendingClub in the 4th quarter worth approximately $40,000. Kestra Advisory Services LLC acquired a new stake in LendingClub during the fourth quarter valued at approximately $44,000. Quarry LP boosted its holdings in LendingClub by 343.0% during the third quarter. Quarry LP now owns 3,030 shares of the credit services provider’s stock worth $46,000 after buying an additional 2,346 shares in the last quarter. Headlands Technologies LLC bought a new stake in LendingClub during the second quarter worth approximately $53,000. Finally, Larson Financial Group LLC grew its position in LendingClub by 1,435.4% in the fourth quarter. Larson Financial Group LLC now owns 3,040 shares of the credit services provider’s stock worth $58,000 after buying an additional 2,842 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Company Profile

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.