Alpha DNA Investment Management LLC Buys Shares of 35,970 LendingClub Co. (NYSE:LC)

Alpha DNA Investment Management LLC bought a new stake in shares of LendingClub Co. (NYSE:LC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 35,970 shares of the credit services provider’s stock, valued at approximately $411,000.

Several other large investors have also recently bought and sold shares of LC. AlphaMark Advisors LLC acquired a new position in shares of LendingClub in the 3rd quarter worth approximately $32,000. nVerses Capital LLC acquired a new position in shares of LendingClub in the 2nd quarter worth approximately $71,000. Innealta Capital LLC purchased a new position in shares of LendingClub in the second quarter worth approximately $72,000. Blue Trust Inc. increased its position in shares of LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of LendingClub by 16.3% in the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,732 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Insider Buying and Selling at LendingClub

In other news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the sale, the chief executive officer now owns 1,373,273 shares in the company, valued at $15,600,381.28. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock valued at $996,940 in the last 90 days. 3.31% of the stock is currently owned by company insiders.

LendingClub Trading Up 5.2 %

Shares of LC stock opened at $16.73 on Monday. LendingClub Co. has a 1 year low of $5.51 and a 1 year high of $16.75. The firm’s fifty day simple moving average is $13.09 and its 200 day simple moving average is $10.98. The firm has a market capitalization of $1.88 billion, a P/E ratio of 36.37 and a beta of 2.01.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. LendingClub’s revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wedbush lifted their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. Compass Point raised their price target on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Piper Sandler restated an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of LendingClub in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub 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.