Adam VanWagner, the Chief Legal Officer and Secretary of MoneyLion Inc. (NYSE:ML), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, VanWagner sold a total of 2,994 shares of Class A Common Stock on November 18, 2024. The transactions were executed at prices ranging from $78.47 to $80.69 per share, bringing the total value of the sales to approximately $237,721.
These transactions were carried out under a pre-arranged trading plan, designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934. Following these sales, VanWagner retains ownership of 91,443 shares in MoneyLion.
The sales were executed in multiple trades, with the weighted average price per share reported for each transaction. The shares were sold at different price points, with the first batch at an average price of $78.47, the second at $79.57, and the final batch at $80.69 per share.
Investors often monitor such transactions closely as they can provide insights into the executive's perspective on the company's future performance.
In other recent news, MoneyLion Inc. reported a record third-quarter revenue of $135 million, a 23% increase from the previous year. The financial technology company also raised its full-year revenue guidance to a range of $536 million to $541 million. The company's adjusted EBITDA for the quarter was a record $24 million, reflecting an 18% margin. This strong performance was attributed to significant customer growth, with the total reaching 18.7 million, and the expansion of its enterprise segment.
Needham maintained a Buy rating on MoneyLion's shares and increased the price target to $100 from $70, following the company's strong third-quarter results and fourth-quarter guidance. The analyst noted that MoneyLion's shares are trading at a discounted valuation compared to its peers, with an approximate 6.7 times enterprise value to FY25 EBITDA ratio. This valuation, along with MoneyLion's robust growth and healthy margins, supports the analyst's bullish stance on the stock.
MoneyLion also launched MoneyLion Checkout to enhance conversion rates for enterprise partners, showing positive early indicators, including a 25% improvement in click-through rates. However, the company reported one-time legal expenses totaling $8 million, which affected EBITDA adjustments. Despite these recent developments, the company did not provide specific updates for October's performance.
InvestingPro Insights
Adding context to Adam VanWagner's recent stock sale, MoneyLion Inc. (NYSE:ML) has been experiencing significant market momentum. According to InvestingPro data, the company's stock has shown a remarkable 1-year price total return of 140.27%, with a particularly strong 3-month return of 95.6%. This impressive performance aligns with an InvestingPro Tip indicating that MoneyLion has delivered a "high return over the last year."
However, investors should note that the stock's RSI suggests it may be in overbought territory, another key InvestingPro Tip. This could potentially explain the timing of VanWagner's sale, as executives often take advantage of high stock prices to liquidate portions of their holdings.
From a financial perspective, MoneyLion's revenue growth stands at 23.4% for the last twelve months, demonstrating the company's ability to expand its business. The company is also expected to be profitable this year, according to analyst predictions highlighted in the InvestingPro Tips.
For those seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for MoneyLion, providing a deeper understanding of the company's financial health and market position.
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