Scott Sanborn, CEO at LendingClub (NYSE:LC), reported a large insider buy on November 2, according to a new SEC filing.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Thursday showed that Sanborn purchased 10,000 shares of LendingClub. The total transaction amounted to $51,929.
LendingClub shares are trading up 7.01% at $5.95 at the time of this writing on Friday morning.
Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.
The Importance of Insider Transactions
Insider transactions shouldn't be used primarily to make an investing decision, however, they can ...