MoneyLion Inc. (NYSE:ML) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in MoneyLion Inc. (NYSE:ML) by 85.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,421 shares of the company’s stock after selling 37,112 shares during the period. JPMorgan Chase & Co. owned about 0.06% of MoneyLion worth $267,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ML. Covestor Ltd increased its stake in shares of MoneyLion by 63.6% during the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. Point72 DIFC Ltd purchased a new position in MoneyLion during the third quarter worth approximately $40,000. FMR LLC raised its stake in MoneyLion by 154.6% during the third quarter. FMR LLC now owns 1,049 shares of the company’s stock worth $44,000 after purchasing an additional 637 shares during the period. Quest Partners LLC boosted its holdings in shares of 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 purchasing an additional 3,801 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in shares of MoneyLion during the 3rd quarter valued at $208,000. 31.43% of the stock is owned by institutional investors and hedge funds.

MoneyLion Price Performance

NYSE ML opened at $86.94 on Friday. The company’s fifty day moving average price is $86.48 and its two-hundred day moving average price is $64.31. The company has a market capitalization of $964.98 million, a price-to-earnings ratio of 395.16 and a beta of 3.07. MoneyLion Inc. has a 12 month low of $36.65 and a 12 month high of $106.82.

Insider Buying and Selling

In related news, insider Timmie Hong sold 6,254 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $86.39, for a total value of $540,283.06. Following the sale, the insider now owns 91,011 shares of the company’s stock, valued at approximately $7,862,440.29. This trade represents a 6.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Diwakar Choubey sold 16,080 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $90.44, for a total value of $1,454,275.20. Following 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 disclosure for this sale can be found here. Over the last three months, insiders sold 117,382 shares of company stock worth $9,847,620. Corporate insiders own 11.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ML. Needham & Company LLC restated a “hold” rating and issued a $100.00 price objective on shares of MoneyLion in a report on Wednesday, December 11th. Lake Street Capital reaffirmed a “hold” rating and set a $82.00 price target (down from $109.00) on shares of MoneyLion in a research report on Wednesday, December 11th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Oppenheimer raised shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, November 7th. Finally, Northland Securities upped their price target on shares of MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MoneyLion currently has a consensus rating of “Buy” and an average price target of $100.00.

MoneyLion 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.