Chime Financial (NASDAQ:CHYM) Director Sells 277,007 Shares of Stock

Key Points

• Director Shawn Carolan sold 277,007 Chime Financial shares at an average price of $33.05, generating proceeds of approximately $9.16 million.
• Chime shares traded near their 12-month high at $33.97, while the company reported quarterly revenue of $669.77 million, up 26.8% year over year, and EPS of $0.07 versus analysts’ expected loss of $0.01.
• Analyst sentiment remains positive, with the stock carrying an overall “Buy” rating and an average price target of $36.20; several firms recently raised their targets, including Piper Sandler to $40.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) Director Shawn Carolan sold 277,007 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $33.05, for a total transaction of $9,155,081.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Chime Financial Stock Performance

NASDAQ:CHYM traded up $0.97 during mid-day trading on Monday, reaching $33.97. The stock had a trading volume of 9,854,087 shares, compared to its average volume of 6,981,155. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $35.55. The business has a 50 day simple moving average of $27.98 and a 200 day simple moving average of $22.62. The firm has a market capitalization of $12.86 billion, a price-to-earnings ratio of -485.22 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its 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. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The business had revenue of $669.77 million during the quarter. During the same period last year, the company posted ($7.29) earnings per share. The business's quarterly revenue was up 26.8% on a year-over-year basis. As a group, sell-side analysts expect that Chime Financial, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Chime Financial

Several hedge funds have recently bought and sold shares of the stock. Spyglass Capital Management LLC raised its holdings in shares of Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company's stock worth $69,760,000 after acquiring an additional 2,109,057 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Chime Financial during the second quarter valued at $59,367,000. Ieq Capital LLC purchased a new stake in Chime Financial during the 4th quarter worth about $58,214,000. Arrowstreet Capital Limited Partnership increased its position in Chime Financial by 2,720.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company's stock worth $51,630,000 after purchasing an additional 2,658,816 shares in the last quarter. Finally, Owls Nest Partners IA LLC acquired a new position in Chime Financial in the 4th quarter valued at about $47,065,000.

Analyst Ratings Changes

A number of research firms have recently weighed in on CHYM. Wall Street Zen raised shares of Chime Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. The Goldman Sachs Group boosted their price objective on shares of Chime Financial from $26.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Freedom Capital upgraded shares of Chime Financial to a "strong-buy" rating in a research report on Thursday, July 23rd. Piper Sandler lifted their price target on shares of Chime Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, September 9th. Finally, UBS Group boosted their price target on Chime Financial from $28.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 9th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $36.20.

More Chime Financial News

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Analyst upgrades and higher price targets: Rothschild & Co Redburn upgraded Chime from “neutral” to “buy” and assigned a $46 price target. B. Riley Financial also maintained a “buy” rating while raising its target from $37 to $44. The targets imply roughly 29.5% to 35.4% potential upside from the referenced $33.97 share-price level, signaling stronger confidence in Chime’s growth prospects.
• Neutral Sentiment: Shares are trading near their 12-month high: Chime’s stock has risen substantially above its 50-day and 200-day moving averages and is near its 12-month high of $35.55. Elevated trading volume suggests strong investor interest, but the move could also increase volatility after the recent rally.
• Negative Sentiment: Directors reported substantial stock sales: Director James Feuille sold 258,398 shares for approximately $8.5 million, reducing one reported holding by 88.25%. He also sold an additional 93,492 shares for about $3.1 million, a 1.33% reduction in another position. Director Cynthia Marshall separately sold 20,000 shares worth approximately $661,800, reducing her position by 41.2%. The sales were disclosed in SEC insider-trading filing and SEC filing for Cynthia Marshall. While insider sales can reflect diversification or scheduled transactions, the size of the disposals represents a potential near-term sentiment headwind.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company's products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.

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