Chime Financial (NASDAQ:CHYM) Director Sells 93,492 Shares

Key Points

• Director James Feuille sold 93,492 Chime shares at an average price of $33.15, generating approximately $3.1 million; he continues to own about 6.94 million shares. He also sold an additional 258,398 shares the following day.
• Chime shares rose 2.9% to $33.97, near their 52-week high. The company recently reported quarterly revenue of $669.77 million, up 26.8% year over year, and earnings of $0.07 per share, exceeding estimates.
• Analyst sentiment remains favorable, with a consensus “Buy” rating and an average price target of $36.20; several firms recently raised targets to $40–$45. Institutional investors have also increased their positions in the company.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) Director James Feuille sold 93,492 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $33.15, for a total transaction of $3,099,259.80. Following the completion of the transaction, the director owned 6,944,215 shares of the company's stock, valued at $230,200,727.25. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

James Feuille also recently made the following trade(s):

• On Friday, September 11th, James Feuille sold 258,398 shares of Chime Financial stock. The stock was sold at an average price of $32.94, for a total transaction of $8,511,630.12.

Chime Financial Stock Up 2.9%

CHYM traded up $0.97 during trading on Monday, hitting $33.97. The company had a trading volume of 9,854,087 shares, compared to its average volume of 5,411,001. The company has a market capitalization of $12.86 billion, a PE ratio of -485.22 and a beta of 0.60. Chime Financial, Inc. has a one year low of $15.88 and a one year high of $35.55. The firm's 50-day moving average price is $27.73 and its 200 day moving average price is $22.52.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released 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 firm had revenue of $669.77 million during the quarter. During the same quarter last year, the company posted ($7.29) EPS. Chime Financial's revenue for the quarter was up 26.8% on a year-over-year basis. Sell-side analysts forecast that Chime Financial, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHYM. KeyCorp lifted their target price on Chime Financial from $33.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, September 9th. Loop Capital assumed coverage on shares of Chime Financial in a research note on Wednesday, September 9th. They set a "buy" rating and a $45.00 price target for the company. UBS Group lifted their price objective on shares of Chime Financial from $28.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, September 9th. Wall Street Zen raised shares of Chime Financial from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Barclays increased their target price on shares of Chime Financial from $33.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, September 9th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $36.20.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CHYM. Spyglass Capital Management LLC boosted its holdings in shares of Chime Financial by 162.6% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company's stock valued at $69,760,000 after buying an additional 2,109,057 shares during the last quarter. California State Teachers Retirement System acquired a new position in Chime Financial during the second quarter worth $59,367,000. Arrowstreet Capital Limited Partnership raised its position in Chime Financial by 2,720.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company's stock worth $51,630,000 after acquiring an additional 2,658,816 shares in the last quarter. Ieq Capital LLC bought a new stake in Chime Financial during the fourth quarter worth $58,214,000. Finally, Light Street Capital Management LLC lifted its stake in Chime Financial by 5.8% in the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company's stock valued at $45,037,000 after acquiring an additional 121,474 shares during the last quarter.

About Chime Financial

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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