Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. LendingClub Corp shares valued at $188,533 were sold by Sanborn Scott on Oct 03 ’24. At $11.09 per share, Sanborn Scott sold 17,000 shares. The insider’s holdings dropped to 1,356,273 shares worth approximately $18.74 million following the completion of this transaction.
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Also, Sanborn Scott sold 17,000 shares, netting a total of over 193,146 in proceeds. Following the sale of shares at $11.36 each, the insider now holds 1,373,273 shares.
Before that, Sanborn Scott had sold 17,000 shares from its account. In a trade valued at $174,304, the CEO traded LendingClub Corp shares for $10.25 each. Upon closing the transaction, the insider’s holdings decreased to 17,000 shares, worth approximately $19.12 million.
As published in a research note from Keefe Bruyette on October 10, 2024, LendingClub Corp [LC] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $15 from $11.50. Analysts at BTIG Research started covering the stock with ‘”a Buy”‘ outlook in a report released in early June. As of November 28, 2023, Piper Sandler has initiated its “an Overweight” rating for LC. Earlier on June 16, 2023, Jefferies initiated its rating. Their recommendation was “a Buy” for LC stock.
Analyzing LC Stock Performance
During the last five days, there has been a surge of approximately 6.97%. Over the course of the year, LendingClub Corp shares have jumped approximately 58.12%. Shares of the company reached a 52-week high of $15.52 on 10/24/24 and a 52-week low of $7.48 on 04/30/24. A 50-day SMA is recorded $11.61, while a 200-day SMA reached $9.51. Nevertheless, trading volume fell to 8.59 million shares from 1.32 million shares the previous day.
Support And Resistance Levels for LendingClub Corp (LC)
According to the 24-hour chart, there is a support level at 13.07, which, if violated, would cause prices to drop to 12.32. In the upper region, resistance lies at 15.04. The next price resistance is at 16.27. RSI (Relative Strength Index) is 70.12 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 38.70%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
