Chime Financial (NASDAQ:CHYM) CAO Sells $300,000.00 in Stock

Key Points

• Chime Financial’s chief accounting officer Amine Asmerom sold 10,000 shares at $30 each, totaling $300,000, under a pre-arranged Rule 10b5-1 plan. The sale reduced his direct ownership by 4.41% to 216,946 shares.
• Chime shares rose 6.0% to $30.85, while the company’s latest quarterly results exceeded expectations with adjusted earnings of $0.07 per share and $669.77 million in revenue, up 26.8% year over year.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $31.06; several firms recently raised their targets, including Canaccord Genuity to $45.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) CAO Amine Asmerom sold 10,000 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief accounting officer directly owned 216,946 shares of the company's stock, valued at approximately $6,508,380. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amine Asmerom also recently made the following trade(s):

• On Tuesday, August 4th, Amine Asmerom sold 10,000 shares of Chime Financial stock. The stock was sold at an average price of $25.00, for a total value of $250,000.00.

Chime Financial Stock Up 6.0%

Shares of Chime Financial stock traded up $1.75 on Monday, hitting $30.85. The stock had a trading volume of 8,443,004 shares, compared to its average volume of 7,993,546. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $33.41. The company's 50 day moving average price is $20.76 and its 200 day moving average price is $20.83.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company's quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm earned ($7.29) EPS. Equities research analysts expect that Chime Financial, Inc. will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Chime Financial

A number of large investors have recently bought and sold shares of the company. Tiger Global Management LLC increased its stake in shares of Chime Financial by 13.8% during the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company's stock worth $357,225,000 after acquiring an additional 1,721,731 shares during the period. Aspect Management LLC purchased a new position in Chime Financial during the fourth quarter worth about $300,361,000. Ashton Thomas Private Wealth LLC acquired a new stake in Chime Financial in the fourth quarter valued at about $129,091,000. Orland Properties Ltd purchased a new stake in Chime Financial in the 2nd quarter valued at approximately $159,093,000. Finally, Scge Management L.P. purchased a new stake in Chime Financial in the 2nd quarter valued at approximately $152,563,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CHYM. B. Riley Financial increased their price target on shares of Chime Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday. Canaccord Genuity Group upped their target price on shares of Chime Financial from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings upgraded shares of Chime Financial from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on Chime Financial from $26.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on Chime Financial from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Chime Financial currently has an average rating of "Moderate Buy" and an average target price of $31.06.

Chime Financial Company Profile

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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