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SAN FRANCISCO—Erin Selleck, a director at LendingClub Corp (NYSE:LC), recently sold 3,060 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of approximately $10.53, totaling $32,208. The financial technology company, currently valued at $1.23 billion, has seen its stock display significant volatility in recent months.
This transaction was conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks. Following this sale, Selleck retains direct ownership of 68,537 shares in the company. According to InvestingPro data, LendingClub trades at a P/E ratio of 23.57 and maintains a healthy current ratio of 2.93, indicating strong liquidity.
Additionally, the filing notes that Selleck holds 6,120 restricted stock units (RSUs) as part of an annual non-employee director equity award. These RSUs will vest quarterly over the next year, contingent on continued service with the company. For deeper insights into LendingClub’s valuation and 14 additional key investment tips, check out the comprehensive analysis available on InvestingPro.
In other recent news, LendingClub reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) expectations but surpassing revenue forecasts. The company posted an EPS of $0.08, below the projected $0.09, while revenue reached $217.2 million, exceeding the anticipated $206.43 million. LendingClub also experienced a 13% year-on-year increase in loan originations, amounting to $1.8 billion, and a 17% rise in total net revenue. Despite these gains, a $3.2 million post-tax software impairment affected net income, which stood at $9.7 million.
LendingClub has set a guidance for Q1 2025 with expected originations between $1.8 billion and $1.9 billion. The company aims for a pre-provision net revenue of $60-$70 million, alongside a Q4 2025 exit rate target of $2.3 billion in quarterly originations. Additionally, LendingClub has expressed openness to strategic acquisitions and rebranding opportunities. The company recently acquired Tally’s debt management technology to enhance its offerings.
Looking ahead, LendingClub expects to continue growing above industry averages, driven by product innovation and increased marketplace investor demand. The company plans to enhance its mobile app functionality and expand its marketing channels to support growth.
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