S&P 500 falls on pressure from retail stocks, weak jobless claims
Erin Selleck, a director at LendingClub Corp (NYSE:LC), recently sold 6,120 shares of the company’s common stock. The transactions, executed under a Rule 10b5-1 trading plan, took place on February 19, 2025. The shares were sold at a weighted-average price of $14.0982, resulting in a total transaction value of approximately $86,280. The sale occurred as LendingClub’s stock, currently trading at $13.03, shows signs of undervaluation according to InvestingPro analysis, despite experiencing high volatility and a 7.5% decline over the past week. Following this sale, Selleck holds 65,477 shares of LendingClub common stock.
The sale was conducted through multiple trades on the same day, with prices ranging from $14.03 to $14.20 per share. Additionally, Selleck received an annual non-employee director equity award of Restricted Stock Units (RSUs) representing 12,240 shares. These RSUs will vest quarterly over a one-year period starting June 11, 2024, contingent upon continued service.
In other recent news, LendingClub disclosed its fourth-quarter 2024 financial results, which showed mixed outcomes. The company reported earnings per share (EPS) of $0.08, slightly below the forecast of $0.09, while revenue surpassed expectations, reaching $217.2 million against the anticipated $206.43 million. LendingClub also experienced a 13% year-on-year increase in loan originations, totaling $1.8 billion. Despite the revenue outperformance, the earnings miss and a $3.2 million software impairment affected net income, which stood at $9.7 million.
Furthermore, the company launched new products and acquired debt management technology, signaling strategic growth efforts. Analyst firms have not indicated any upgrades or downgrades for LendingClub, but the company’s strategic positioning was positively highlighted by its executives. Looking ahead, LendingClub aims for a pre-provision net revenue of $60-$70 million in Q1 2025 and targets a Q4 2025 exit rate of $2.3 billion in quarterly originations. These developments reflect the company’s ongoing efforts to enhance its financial performance and market presence.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.