Mark Torossian, the Chief Accounting Officer of MoneyLion Inc. (NYSE:ML), has recently sold 328 shares of the company's Class A Common Stock, according to a recent SEC filing. The shares were sold at a price of $80.00 each, totaling $26,240. Following this transaction, Torossian holds 20,409 shares, including restricted stock units and performance share units. The sale was conducted under a pre-established trading plan compliant with Rule 10b5-1(c).
In other recent news, MoneyLion, the financial technology firm, reported a record Q3 revenue of $135 million, marking a 23% increase from the previous year. This robust performance led to an upward revision of its full-year revenue guidance to a range of $536 million to $541 million. The company also recorded an adjusted EBITDA of $24 million, reflecting an 18% margin.
Needham maintained a Buy rating on MoneyLion shares and raised the price target to $100 from $70, following the company's strong third quarter results. The analyst attributed this decision to the growing strength of MoneyLion's enterprise business, a key component of the company's long-term investment thesis.
Furthermore, MoneyLion launched MoneyLion Checkout to enhance conversion rates for enterprise partners, showing positive early indicators. However, the company reported one-time legal expenses totaling $8 million, which affected EBITDA adjustments.
These recent developments underscore the company's strategic initiatives, including the expansion into new financial verticals such as auto loans and insurance. Therefore, these recent developments position MoneyLion well for continued growth in the evolving financial services landscape.
InvestingPro Insights
As MoneyLion Inc. (NYSE:ML) experiences insider selling activity, it's crucial to examine the company's financial health and market performance. According to InvestingPro data, MoneyLion boasts a market capitalization of $768.98 million, reflecting its position in the fintech sector. The company's revenue growth stands at an impressive 23.4% over the last twelve months, indicating strong business momentum.
InvestingPro Tips highlight that MoneyLion's net income is expected to grow this year, which could be a positive sign for investors despite the recent insider sale. Additionally, the company has shown a significant return over the last week, with a remarkable 89.42% price increase, and a staggering 208.97% return over the past year.
It's worth noting that MoneyLion is trading at a high P/E ratio of 201.51, suggesting investors are pricing in substantial future growth. This aligns with another InvestingPro Tip indicating that the stock is trading at a high earnings multiple relative to near-term earnings growth, with a PEG ratio of 3.17.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips that could provide valuable insights into MoneyLion's investment potential. These tips cover various aspects of the company's financial health and market performance, offering a well-rounded view for potential investors.
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