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

Shares of MoneyLion Inc. (NYSE:ML) fell 5% during mid-day trading on Monday following insider selling activity. The stock traded as low as $86.59 and last traded at $87.11. 27,253 shares changed hands during trading, a decline of 86% from the average session volume of 201,283 shares. The stock had previously closed at $91.70.

Specifically, CEO Diwakar Choubey sold 16,080 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $90.44, for a total transaction of $1,454,275.20. Following the completion of the transaction, the chief executive officer now owns 674,025 shares of the company’s stock, valued at $60,958,821. This represents a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Diwakar Choubey sold 720 shares of MoneyLion stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 owns 690,105 shares in the company, valued at approximately $62,116,351.05. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related 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 $16,087,577.03. This trade represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

Several research analysts have commented on the stock. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of MoneyLion in a research note on Tuesday, November 26th. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Northland Securities increased their target price on MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald upgraded MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $97.86.

MoneyLion Stock Performance

The stock has a 50-day moving average of $57.67 and a two-hundred day moving average of $62.61. The company has a market cap of $952.49 million, a P/E ratio of 390.36 and a beta of 3.08.

Institutional Investors Weigh In On MoneyLion

Institutional investors have recently modified their holdings of the stock. Divisadero Street Capital Management LP purchased a new position in shares of MoneyLion in the 2nd quarter worth about $13,427,000. Bank of Montreal Can raised its holdings in MoneyLion by 2,060.1% in the second quarter. Bank of Montreal Can now owns 103,470 shares of the company’s stock worth $7,864,000 after buying an additional 98,680 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in MoneyLion by 77.1% in the second quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock worth $16,288,000 after buying an additional 96,433 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of MoneyLion by 64.2% in the second quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock worth $15,747,000 after buying an additional 83,700 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of MoneyLion by 24.1% during the second quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock valued at $17,675,000 after buying an additional 46,611 shares during the last quarter. 31.43% of the stock is owned by hedge funds and other institutional investors.

About MoneyLion

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.