Chime Financial (NASDAQ:CHYM) CEO Sells $4,524,000.00 in Stock

Key Points

• CEO Christopher Britt sold 150,000 Chime Financial shares at an average price of $30.16, generating $4.524 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
• Chime shares closed at $30.85 after rising $1.75, near their 12-month high of $33.41. The company recently reported quarterly EPS of $0.07, beating estimates by $0.08, while revenue increased 26.8% year over year to $669.77 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $31.06; Canaccord Genuity raised its target to $45 and kept a “buy” rating.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) CEO Christopher Britt sold 150,000 shares of Chime Financial stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $30.16, for a total value of $4,524,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Performance

Shares of NASDAQ CHYM traded up $1.75 during trading hours on Monday, hitting $30.85. 8,443,004 shares of the company traded hands, compared to its average volume of 7,993,546. The company's 50 day moving average price is $20.76 and its 200 day moving average price is $20.83. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $33.41.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million during the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The firm's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($7.29) earnings per share. Sell-side analysts predict that Chime Financial, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wolfe Research reaffirmed an "outperform" rating and set a $32.00 price target on shares of Chime Financial in a research note on Thursday. UBS Group increased their price objective on shares of Chime Financial from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday. Canaccord Genuity Group raised their price objective on shares of Chime Financial from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday. Freedom Capital upgraded Chime Financial to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Texas Capital upgraded Chime Financial to a "strong-buy" rating in a report on Tuesday, April 14th. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, Chime Financial currently has an average rating of "Moderate Buy" and a consensus target price of $31.06.

Institutional Trading of Chime Financial

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC purchased a new position in Chime Financial in the 2nd quarter worth about $33,000. Scopus Asset Management L.P. bought a new position in Chime Financial in the 2nd quarter worth about $34,000. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial during the fourth quarter worth approximately $25,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial during the second quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company's stock valued at $37,000 after acquiring an additional 1,276 shares in the last quarter.

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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