Needham & Company LLC Reaffirms “Buy” Rating for MoneyLion (NYSE:ML)

Needham & Company LLC reiterated their buy rating on shares of MoneyLion (NYSE:ML) in a research report sent to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a $100.00 price target on the stock.

A number of other equities research analysts have also weighed in on the stock. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. 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 research note on Thursday, November 7th. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Northland Securities lifted their price objective on MoneyLion from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, MoneyLion has an average rating of “Buy” and a consensus target price of $97.86.

MoneyLion Price Performance

Shares of ML stock opened at $91.70 on Tuesday. The stock’s fifty day moving average price is $56.82 and its 200 day moving average price is $62.77. MoneyLion has a 1-year low of $36.65 and a 1-year high of $106.82. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 416.82 and a beta of 2.67.

Insider Activity

In related news, CEO Diwakar Choubey sold 20,133 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $80.11, for a total value of $1,612,854.63. Following the transaction, the chief executive officer now directly owns 690,825 shares of the company’s stock, valued at approximately $55,341,990.75. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Vanwagner sold 2,994 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $79.40, for a total value of $237,723.60. Following the sale, the insider now owns 90,635 shares of the company’s stock, valued at approximately $7,196,419. This trade represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,680 shares of company stock worth $4,120,514 in the last ninety days. Company insiders own 11.90% of the company’s stock.

Institutional Trading of MoneyLion

A number of institutional investors have recently made changes to their positions in ML. Barclays PLC raised its position in shares of MoneyLion by 52.1% in the third quarter. Barclays PLC now owns 13,821 shares of the company’s stock valued at $575,000 after buying an additional 4,735 shares during the last quarter. Geode Capital Management LLC grew its stake in MoneyLion by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 167,197 shares of the company’s stock valued at $6,948,000 after acquiring an additional 9,106 shares in the last quarter. State Street Corp grew its stake in MoneyLion by 3.1% during the 3rd quarter. State Street Corp now owns 169,694 shares of the company’s stock valued at $7,051,000 after acquiring an additional 5,108 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in MoneyLion in the 3rd quarter valued at about $40,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of MoneyLion during the 3rd quarter worth approximately $574,000. 31.43% of the stock is owned by institutional investors and hedge funds.

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.