Amine Asmerom Sells 10,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Key Points

• Chime Financial CAO Amine Asmerom sold 10,000 shares at an average price of $25, generating $250,000. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 4.22% to 226,946 shares.
• Chime reported quarterly earnings of $0.07 per share, beating the consensus estimate of a $0.01 loss, while revenue rose 26.8% year over year to $669.77 million. Despite the improvement, the company maintained a negative net margin and return on equity.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $29.19, compared with the stock’s reported trading price of $25.92.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) CAO Amine Asmerom sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the chief accounting officer directly owned 226,946 shares of the company's stock, valued at $5,673,650. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Performance

NASDAQ CHYM traded up $0.97 during trading hours on Wednesday, hitting $25.92. 9,427,624 shares of the company's stock traded hands, compared to its average volume of 5,253,328. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $33.99. The business's fifty day moving average price is $20.05 and its two-hundred day moving average price is $20.74.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The business had revenue of $669.77 million for the quarter. During the same quarter in the previous year, the business posted ($7.29) earnings per share. The firm's revenue was up 26.8% on a year-over-year basis. On average, research analysts anticipate that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial during the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial in the 2nd quarter valued at $34,000. PNC Financial Services Group Inc. bought a new stake in Chime Financial in the 4th quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial in the 2nd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company's stock worth $37,000 after purchasing an additional 1,276 shares in the last quarter.

Analysts Set New Price Targets

CHYM has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Chime Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Chime Financial in a research note on Wednesday, June 3rd. BMO Capital Markets reduced their target price on shares of Chime Financial from $30.00 to $28.00 and set an "outperform" rating for the company in a report on Wednesday, July 22nd. Barclays began coverage on shares of Chime Financial in a research note on Wednesday, July 8th. They set an "overweight" rating and a $26.00 target price on the stock. Finally, Compass Point upgraded shares of Chime Financial from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $33.00 to $27.00 in a research report on Monday, April 13th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $29.19.

About Chime Financial

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.

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