San Francisco, CA – LendingClub Corp (NYSE:) CEO Sanborn Scott recently sold 17,000 shares of the company’s common stock, resulting in a total transaction value of $274,031. The shares were sold at an average price of $16.1195, with the trade executed on January 2, 2025.
This transaction was conducted as part of a pre-established Rule 10b5-1 trading plan, aimed at asset diversification. According to the company’s filings, the shares sold under this plan represent 4.2% of Scott’s equity interest in LendingClub. The sales mark the first time Scott has sold shares of LendingClub stock during his eight-year tenure as CEO, aside from transactions related to equity tax obligations. Following this sale, Scott retains ownership of 1,312,184 shares. According to InvestingPro data, LendingClub currently trades at a P/E ratio of 37, with analysts recently revising earnings expectations upward. InvestingPro subscribers have access to 14 additional key insights about LendingClub’s financial health and market position.
In other recent news, Lending Club has been the subject of several analyst notes and financial developments. Piper Sandler analyst Brad Capuzzi increased the price target on Lending Club stock to $20.00 from $15.00, maintaining an Overweight rating. This adjustment followed the company’s inclusion as a top pick for 2025 in Piper Sandler’s “2025 Financial Services Top Ideas.”
Meanwhile, JPMorgan (NYSE:) revised its stance on LendingClub, adjusting the stock from an Overweight rating to Neutral. Despite the downgrade, the firm increased its price target on the company’s shares to $17.00, up from the previous target of $14.00.
Maxim (NASDAQ:) Group also adjusted its outlook on Lending Club, raising the price target to $19.00 from the previous $16.00, while reaffirming its Buy rating on the stock. This adjustment came after Lending Club hosted an investor event in New York City.
In addition, Piper Sandler raised Lending Club’s stock target price from $13.00 to $15.00, maintaining an Overweight rating. The company reported strong results, outperforming estimates largely due to an increase in net interest income and improved loan sale pricing.
Finally, Lending Club reported robust growth in its third quarter of 2024, with a 6% sequential increase in originations, reaching $1.9 billion, and an 8% rise in revenue to over $200 million. These recent developments reflect the company’s ongoing financial performance and strategic initiatives.
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