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San Francisco, CA—Sanborn Scott, CEO of LendingClub Corp (NYSE:LC), recently sold 5,250 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction, executed on April 9, 2025, was conducted at a price of $10.00 per share, amounting to a total sale value of $52,500. The sale comes as LendingClub’s stock has declined nearly 26% over the past six months, with shares currently trading at $9.20. According to InvestingPro analysis, the company maintains a FAIR financial health score.
This sale was part of a pre-established Rule 10b5-1 trading plan designed to diversify Scott’s assets. Following the transaction, Scott holds 1,303,032 shares of LendingClub. The trading plan allows for the sale of up to 4.1% of Scott’s equity interest in the company, as disclosed in the company’s Form 10-K for the period ending December 31, 2024. With the company’s next earnings report due on April 23, InvestingPro subscribers can access 14 additional key insights and a comprehensive Pro Research Report for deeper analysis of LendingClub’s current market position.
In other recent news, LendingClub announced its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) expectations with an EPS of $0.08, just below the anticipated $0.09. Despite this, the company exceeded revenue forecasts, reporting $217.2 million compared to the expected $206.43 million, marking a 17% year-on-year increase. LendingClub also experienced a 13% rise in loan originations, reaching $1.8 billion for the quarter. The company has been active in launching new products and acquiring debt management technology to enhance its offerings. Analysts from BTIG and Piper Sandler have noted the company’s performance, with discussions on its origination guidance and market strategies. LendingClub has set its sights on a Q1 2025 origination guidance of $1.8-$1.9 billion, aiming for a Q4 2025 exit rate of $2.3 billion in quarterly originations. The company is optimistic about its strategic positioning, with CEO Scott Sanborn expressing confidence in its growth prospects. Despite the EPS miss, the company’s strong revenue performance and strategic initiatives indicate a focus on long-term growth.
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