Insider Selling: Chime Financial (NASDAQ:CHYM) Insider Sells $351,197.54 in Stock

Key Points

• Insider sale: Chime Financial insider Ryan King sold 11,318 shares for approximately $351,198 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 23.04% to 37,812 shares.
• Recent performance: Chime shares traded at $30.16, near their $30.76 50-day average, while the company reported $0.07 quarterly EPS—beating estimates—and $669.77 million in revenue, up 26.8% year over year.
• Analyst outlook: Institutional investors have increased or initiated positions, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $36.38.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) insider Ryan King sold 11,318 shares of the firm's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $31.03, for a total transaction of $351,197.54. Following the transaction, the insider directly owned 37,812 shares of the company's stock, valued at approximately $1,173,306.36. This represents a 23.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Performance

Shares of Chime Financial stock traded down $0.21 during trading on Thursday, reaching $30.16. The company had a trading volume of 2,091,788 shares, compared to its average volume of 5,433,875. The company has a market cap of $11.42 billion, a price-to-earnings ratio of -430.80 and a beta of 0.83. The firm's fifty day moving average is $30.76 and its 200-day moving average is $24.23. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $35.55.

Chime Financial (NASDAQ:CHYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. The business 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 revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the business posted ($7.29) earnings per share. On average, research analysts anticipate that Chime Financial, Inc. will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Chime Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. AMS Capital Ltda bought a new position in shares of Chime Financial in the first quarter valued at approximately $3,439,000. Arrowstreet Capital Limited Partnership lifted its position in 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 purchasing an additional 2,658,816 shares during the period. Arizona State Retirement System bought a new position in Chime Financial during the 2nd quarter valued at $692,000. Hsbc Holdings PLC acquired a new position in shares of Chime Financial during the 4th quarter valued at $1,274,000. Finally, Brown University lifted its holdings in shares of Chime Financial by 99.0% in the first quarter. Brown University now owns 204,625 shares of the company's stock valued at $3,833,000 after buying an additional 101,820 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CHYM shares. Wolfe Research increased their target price on shares of Chime Financial from $32.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Freedom Capital raised shares of Chime Financial to a "strong-buy" rating in a report on Thursday, July 23rd. Raymond James Financial set a $35.00 price objective on shares of Chime Financial in a research report on Thursday, October 8th. Loop Capital started coverage on shares of Chime Financial in a research report on Wednesday, September 9th. They set a "buy" rating and a $45.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Chime Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Chime Financial has a consensus rating of "Moderate Buy" and a consensus price target of $36.38.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime's products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.

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