A company insider recently sold 38,322 shares of LendingClub Corporation [LC]. Should You Sale?

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ZOM Stock

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. LendingClub Corporation shares valued at $386,293 were sold by ARMSTRONG ANNIE on Nov 28. At $10.08 per share, ARMSTRONG ANNIE sold 38,322 shares. The insider’s holdings dropped to 165,435 shares worth approximately $1.61 million following the completion of this transaction.

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Also, Momen Ronnie sold 28,607 shares, netting a total of over 288,436 in proceeds. Following the sale of shares at $10.08 each, the insider now holds 180,173 shares.

Before that, Kay Valerie had sold 22,392 shares from its account. In a trade valued at $225,812, the Bank-Chief Capital Officer traded LendingClub Corporation shares for $10.08 each. Upon closing the transaction, the insider’s holdings decreased to 22,392 shares, worth approximately $1.68 million.

As published in a research note from Janney on January 26, 2023, LendingClub Corporation [LC] has been rated down from a Buy to a Neutral and the price target has been revised to $10. This represents a 2.8% premium over Thursday’s closing price. Analysts at Janney upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid January. As of January 11, 2022, Seaport Research Partners has initiated its “Buy” rating for LC.

Analyzing LC Stock Performance

On Thursday, LendingClub Corporation [NYSE: LC] rose 1.46% to $9.72. The stock’s lowest price that day was $9.435, but it reached a high of $9.765 in the same session. During the last five days, there has been a drop of approximately -6.63%. Over the course of the year, LendingClub Corporation shares have jumped approximately 10.45%. Shares of the company reached a 52-week high of $10.90 on 02/02/23 and a 52-week low of $8.23 on 01/05/23. A 50-day SMA is recorded $9.45, while a 200-day SMA reached $11.83. Nevertheless, trading volume fell to 1.26 million shares from 1.46 million shares the previous day.

Support And Resistance Levels for LendingClub Corporation (LC)

According to the 24-hour chart, there is a support level at 9.52, which, if violated, would cause prices to drop to 9.31. In the upper region, resistance lies at 9.85. The next price resistance is at 9.97. RSI (Relative Strength Index) is 48.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.33, which suggests the price will decrease in the coming days. Percent R is at 69.83%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.

Is LendingClub Corporation subject to short interest?

Stocks of LendingClub Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.4 million shares to 4.73 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.13 million shares. A decline of -8.46% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.13 of the overall float, the days-to-cover ratio (short ratio) decline to 2.13.

Which companies own the most shares of LendingClub Corporation (LC)?

According to The Vanguard Group, Inc. filings, the company currently owns 13,983,790 shares, which is about 13.31% of the total LC shares outstanding. The investor’s shares have appreciated by 1,070,405 from its previous 13-F filing of 12913385.0 shares. With the completion of the sale transaction, Jackson Square Partners LLC’s stake is now worth $76,092,983. BlackRock Fund Advisors acquire a 9.17% interest valued at $65.78 million while Rubric Capital Management LP purchased a 964,936 stake. A total of 725,484 shares of LendingClub Corporation were bought by Dimensional Fund Advisors LP during the quarter, and 149,677 were bought by SSgA Funds Management, Inc. In its current portfolio, Harspring Capital Management LLC holds 2,191,500 shares valued at $21.24 million.

In terms of LendingClub Corporation share price expectations, FactSet research, analysts set an average price target of $12.57 in the next 12 months, up nearly 25.26% from the previous closing price of $9.58. Analysts anticipate LendingClub Corporation stock to reach $17.00 by 2023, with the lowest price target being $9.00. In spite of this, 7 analysts ranked LendingClub Corporation stock as an Overweight at the end of 2023. On October 28, 2021, Compass Point assigned a price target of “a Buy” to the stock and upgraded coverage with a $55.


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