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SAN FRANCISCO—Cheng Jordan, the General Counsel and Secretary of LendingClub Corp (NYSE:LC), recently executed a sale of 14,000 shares of common stock, according to a filing with the Securities and Exchange Commission. The sales occurred over two days, February 19 and 20, and were part of a pre-arranged trading plan under Rule 10b5-1. The stock, which has seen volatile trading patterns recently with a -7.5% return over the past week, currently trades at $13.03.
The transactions were executed at prices ranging from $13.8831 to $14.0979 per share, totaling approximately $195,867. Following these sales, Jordan retains direct ownership of 81,263 shares in the company. According to InvestingPro data, analyst consensus remains moderately bullish, with price targets ranging from $14 to $20.
LendingClub, headquartered in San Francisco, is known for its role in the personal credit sector, offering a range of financial products and services. The company maintains strong liquidity with a current ratio of 2.93 and has achieved profitability over the last twelve months. InvestingPro analysis indicates the stock is currently undervalued, with 16+ additional insights available to subscribers.
In other recent news, LendingClub reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) expectations, posting $0.08 compared to the forecasted $0.09. However, the company exceeded revenue expectations, reaching $217.2 million against the anticipated $206.43 million. LendingClub also saw a 13% year-on-year increase in loan originations, amounting to $1.8 billion. Despite these gains, a $3.2 million post-tax software impairment impacted net income, which stood at $9.7 million. The company has set a Q1 2025 origination guidance of $1.8-$1.9 billion and aims for a pre-provision net revenue of $60-$70 million. Analyst discussions highlighted the company’s strategic positioning, with CEO Scott Sanborn expressing confidence in future growth. Additionally, LendingClub launched new products and acquired debt management technology to enhance its offerings. These developments come amid a competitive lending market and macroeconomic pressures.
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