Chime Financial (NASDAQ:CHYM) Insider Ryan King Sells 375,000 Shares of Stock

Key Points

• Insider Ryan King sold 375,000 Chime Financial shares at an average price of $30.27, generating approximately $11.35 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Chime shares rose 6.0% to $30.85 in midday trading, near the analyst consensus target of $31.06 and below the 52-week high of $33.41.
• The company reported quarterly earnings of $0.07 per share, beating estimates by $0.08, while revenue increased 26.8% year over year to $669.77 million. Analysts maintain a consensus “Moderate Buy” rating, with several raising price targets.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) insider Ryan King sold 375,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $30.27, for a total transaction of $11,351,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Up 6.0%

Chime Financial stock traded up $1.75 during midday trading on Monday, hitting $30.85. 8,443,004 shares of the stock were exchanged, 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 business'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 posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm had revenue of $669.77 million during the quarter. During the same quarter last year, the business posted ($7.29) EPS. The company's quarterly revenue was up 26.8% on a year-over-year basis. Research analysts predict that Chime Financial, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

CHYM has been the topic of a number of recent analyst reports. Wolfe Research reiterated an "outperform" rating and set a $32.00 price target on shares of Chime Financial in a report on Thursday. BMO Capital Markets upped their price objective on Chime Financial from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday. Wells Fargo & Company raised their target price on Chime Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Chime Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Finally, Canaccord Genuity Group boosted their price target on shares of Chime Financial from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.06.

Institutional Trading of Chime Financial

A number of large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in shares of Chime Financial during the 2nd quarter worth $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial in the 2nd quarter valued at about $34,000. PNC Financial Services Group Inc. bought a new stake in Chime Financial in the 4th quarter valued at about $25,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial during the second quarter valued at about $40,000. Finally, Osaic Holdings Inc. purchased a new stake in Chime Financial during the second quarter valued at about $45,000.

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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