Christopher Britt Sells 200,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Key Points

• CEO Christopher Britt sold 200,000 Chime Financial shares at an average price of $29.19, generating approximately $5.84 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Chime reported quarterly EPS of $0.07, beating the analyst consensus estimate of a $0.01 loss, while revenue reached $669.77 million—up 26.8% year over year.
• Shares recently rose 6.0% to $30.85, and analysts maintain a “Moderate Buy” consensus with an average price target of $31.06.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) CEO Christopher Britt sold 200,000 shares of Chime Financial stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.19, for a total transaction of $5,838,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Trading Up 6.0%

Shares of CHYM stock traded up $1.75 on Monday, reaching $30.85. 8,443,004 shares of the stock were exchanged, compared to its average volume of 7,993,546. The firm has a 50 day moving average of $20.76 and a two-hundred day moving average of $20.83. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $33.41.

Chime Financial (NASDAQ:CHYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.08. The firm 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%.Chime Financial's revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm posted ($7.29) EPS. On average, equities research analysts expect that Chime Financial, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CHYM shares. UBS Group increased their target price on shares of Chime Financial from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday. Compass Point upgraded shares of Chime Financial from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. Canaccord Genuity Group increased their price objective on shares of Chime Financial from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Chime Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, B. Riley Financial lifted their target price on shares of Chime Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.06.

Institutional Investors Weigh In On Chime Financial

Large investors have recently modified their holdings of the stock. AMS Capital Ltda purchased a new position in Chime Financial in the first quarter valued at about $3,439,000. Transcend Capital Advisors LLC purchased a new position in shares of Chime Financial during the 4th quarter valued at approximately $1,286,000. Farther Finance Advisors LLC grew its position in shares of Chime Financial by 2,794.6% during the fourth quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company's stock worth $1,821,000 after buying an additional 69,866 shares in the last quarter. Baxter Bros Inc. acquired a new stake in shares of Chime Financial during the fourth quarter worth approximately $2,799,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company's stock worth $51,630,000 after buying an additional 2,658,816 shares during 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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