Wells Fargo & Company MN Boosts Stake in MoneyLion Inc. (NYSE:ML)

Wells Fargo & Company MN boosted its holdings in MoneyLion Inc. (NYSE:ML) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,537 shares of the company’s stock after acquiring an additional 1,220 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of MoneyLion worth $734,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in MoneyLion in the 4th quarter valued at approximately $29,000. New York State Teachers Retirement System acquired a new stake in MoneyLion in the fourth quarter valued at $67,000. KLP Kapitalforvaltning AS purchased a new position in shares of MoneyLion in the fourth quarter valued at $86,000. PFG Investments LLC acquired a new position in shares of MoneyLion during the 4th quarter worth $215,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of MoneyLion in the 4th quarter worth about $222,000. Institutional investors and hedge funds own 31.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ML shares. B. Riley cut shares of MoneyLion from a “buy” rating to a “neutral” rating and cut their target price for the stock from $133.00 to $90.00 in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of MoneyLion in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MoneyLion currently has an average rating of “Moderate Buy” and a consensus target price of $92.83.

MoneyLion Stock Performance

Shares of ML opened at $85.90 on Friday. The company has a market capitalization of $972.39 million, a price-to-earnings ratio of 390.45 and a beta of 2.94. MoneyLion Inc. has a 1 year low of $36.65 and a 1 year high of $106.82. The company’s 50 day simple moving average is $86.50 and its 200 day simple moving average is $81.34.

Insider Buying and Selling at MoneyLion

In related news, CAO Mark Torossian sold 1,136 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $87.26, for a total value of $99,127.36. Following the completion of the sale, the chief accounting officer now directly owns 17,476 shares in the company, valued at approximately $1,524,955.76. The trade was a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Correia sold 11,490 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $87.26, for a total transaction of $1,002,617.40. Following the transaction, the chief financial officer now directly owns 166,529 shares in the company, valued at approximately $14,531,320.54. This represents a 6.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,055 shares of company stock worth $4,176,052. Insiders own 11.90% of the company’s stock.

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.