MoneyLion (NYSE:ML) Trading Down 5% Following Insider Selling

MoneyLion Inc. (NYSE:ML) was down 5% on Monday following insider selling activity. The stock traded as low as $86.59 and last traded at $87.11. Approximately 27,253 shares were traded during trading, a decline of 86% from the average daily volume of 201,283 shares. The stock had previously closed at $91.70.

Specifically, CEO Diwakar Choubey sold 16,080 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $90.44, for a total value of $1,454,275.20. Following the completion of the sale, the chief executive officer now owns 674,025 shares of the company’s stock, valued at approximately $60,958,821. This trade represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Diwakar Choubey sold 720 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $90.01, for a total value of $64,807.20. Following the completion of the sale, the chief executive officer now directly owns 690,105 shares of the company’s stock, valued at approximately $62,116,351.05. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In other MoneyLion news, CFO Richard Correia sold 6,982 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $90.37, for a total value of $630,963.34. Following the completion of the sale, the chief financial officer now owns 178,019 shares of the company’s stock, valued at approximately $16,087,577.03. This trade represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

ML has been the subject of a number of recent analyst reports. Northland Securities raised their target price on MoneyLion from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Northland Capmk raised MoneyLion to a “strong-buy” rating in a report on Wednesday, October 16th. Oppenheimer raised MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of MoneyLion in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald raised MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, MoneyLion presently has an average rating of “Buy” and a consensus price target of $97.86.

MoneyLion Stock Performance

The stock has a market cap of $952.49 million, a PE ratio of 390.36 and a beta of 3.08. The business has a 50-day moving average of $57.67 and a 200 day moving average of $62.61.

Institutional Trading of MoneyLion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after buying an additional 255 shares during the period. Point72 DIFC Ltd purchased a new stake in MoneyLion in the 3rd quarter valued at about $40,000. FMR LLC grew its holdings in MoneyLion by 154.6% in the 3rd quarter. FMR LLC now owns 1,049 shares of the company’s stock valued at $44,000 after buying an additional 637 shares during the period. Quest Partners LLC grew its holdings in MoneyLion by 3,016.7% in the 3rd quarter. Quest Partners LLC now owns 3,927 shares of the company’s stock valued at $163,000 after buying an additional 3,801 shares during the period. Finally, Fiducient Advisors LLC purchased a new stake in MoneyLion in the 2nd quarter valued at about $204,000. Hedge funds and other institutional investors own 31.43% of the company’s stock.

MoneyLion Company Profile

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.