Insider Selling: Chime Financial (NASDAQ:CHYM) CFO Sells 65,000 Shares of Stock

Key Points

• Chime Financial CFO Matthew Newcomb sold 65,000 shares at an average price of $30.17, totaling approximately $1.96 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 2.85%.
• Chime shares recently traded at $30.85, up 6%, after the company reported quarterly EPS of $0.07—beating the consensus estimate of a $0.01 loss—and revenue of $669.77 million, up 26.8% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $31.06; several firms recently raised their targets, including Canaccord Genuity to $45.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) CFO Matthew Newcomb sold 65,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $30.17, for a total transaction of $1,961,050.00. Following the transaction, the chief financial officer directly owned 2,216,070 shares in the company, valued at $66,858,831.90. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Up 6.0%

CHYM stock traded up $1.75 during trading 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's 50 day moving average is $20.76 and its 200 day moving average is $20.83. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $33.41.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $669.77 million for 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 was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($7.29) EPS. On average, research analysts expect that Chime Financial, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Chime Financial during the second quarter worth $13,453,000. Handelsbanken Fonder AB bought a new position in Chime Financial during the 2nd quarter valued at $1,358,000. Affinity Capital Advisors LLC purchased a new position in Chime Financial during the 2nd quarter worth $325,000. AMS Capital Ltda purchased a new position in Chime Financial during the 1st quarter worth $3,439,000. Finally, NewEdge Advisors LLC grew its stake in shares of Chime Financial by 61.8% in the 1st quarter. NewEdge Advisors LLC now owns 28,780 shares of the company's stock worth $539,000 after acquiring an additional 10,997 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CHYM shares. UBS Group lifted their price target on shares of Chime Financial from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday. Wall Street Zen raised shares of Chime Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. BMO Capital Markets raised their price objective on shares of Chime Financial from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday. B. Riley Financial lifted their price objective on shares of Chime Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday. Finally, Canaccord Genuity Group boosted their target price on shares of Chime Financial from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.06.

About Chime Financial

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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