Geode Capital Management LLC Boosts Stake in MoneyLion Inc. (NYSE:ML)

Geode Capital Management LLC raised its stake in shares of MoneyLion Inc. (NYSE:ML - Free Report) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,197 shares of the company's stock after buying an additional 9,106 shares during the quarter. Geode Capital Management LLC owned about 1.52% of MoneyLion worth $6,948,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ML has been the topic of several recent analyst reports. Lake Street Capital reaffirmed a "hold" rating and set a $82.00 price objective (down from $109.00) on shares of MoneyLion in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a "hold" rating and issued a $100.00 price target on shares of MoneyLion in a research note on Wednesday, December 11th. Northland Capmk raised shares of MoneyLion to a "strong-buy" rating in a report on Wednesday, October 16th. Northland Securities raised their target price on shares of MoneyLion from $80.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Finally, Oppenheimer upgraded shares of MoneyLion from a "market perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $100.00.

MoneyLion Stock Up 0.7 %

ML traded up $0.58 during trading on Friday, hitting $86.79. The company's stock had a trading volume of 88,869 shares, compared to its average volume of 109,835. The business's 50 day simple moving average is $78.64 and its 200-day simple moving average is $62.44. The firm has a market cap of $963.46 million, a PE ratio of 394.50 and a beta of 3.08. MoneyLion Inc. has a one year low of $36.65 and a one year high of $106.82.

Insider Buying and Selling

In other MoneyLion news, insider Timmie Hong sold 2,504 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $48.35, for a total value of $121,068.40. Following the completion of the transaction, the insider now directly owns 103,353 shares in the company, valued at $4,997,117.55. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Diwakar Choubey sold 16,080 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $90.44, for a total transaction of $1,454,275.20. Following the sale, the chief executive officer now owns 674,025 shares in the company, valued at $60,958,821. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,632 shares of company stock valued at $9,428,405. 11.90% of the stock is owned by company insiders.

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.