LendingTree CEO Douglas Lebda sold nearly $2.4 million worth of stock in the company, according to a filing Monday with the Securities and Exchange Commission.
Lebda sold 8,000 shares at range from $292.63 to $299.95 per share, for a total value of $2,379,138. After the transaction, Lebda now owns 413,418 shares in the company worth more than $110 million.
It’s at least the ninth time that Lebda has sold stock in 2017.
Lebda founded LendingTree in 1996 after becoming frustrated with his personal experience of getting his first mortgage. Lebda launched the company nationally in 1998 and an IPO in 2000. Before founding LendingTree, Lebda received his bachelor’s degree from Bucknell University and worked as an auditor and consultant for PriceWaterhouseCoopers.
LendingTree was started with the idea of creating a marketplace for banks to compete with one another for customer’s business instead of customers having to find their own deals.
“When we launched the site in 1998, we were able to empower consumers with choice,” says Lebda. “And lenders could target costumers whose needs they were best prepared to meet.”
In May 2003, the company was acquired by IAC/InterActiveCorp, which connected LendingTree to corporations like HSN, Ticketmaster and Match.com.
LendingTree’s stock traded on Monday around $306.45 per share, up 5.20 or 1.73 percent from from the morning’s opening price of $302.75.
The form can be found here.