Christopher Britt Sells 100,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 100,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $34.03, for a total value of $3,403,000.00. The sale was disclosed in a document filed 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

NASDAQ:CHYM traded down $1.45 during trading hours on Tuesday, reaching $31.66. The company had a trading volume of 8,099,544 shares, compared to its average volume of 9,887,814. The stock has a 50-day moving average of $25.60 and a two-hundred day moving average of $21.77. Chime Financial, Inc. has a one year low of $15.88 and a one year high of $34.16.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data 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. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company had revenue of $669.77 million during the quarter. During the same period in the previous year, the business posted ($7.29) earnings per share. The firm’s revenue was up 26.8% compared to the same quarter last year. As a group, analysts predict that Chime Financial, Inc. will post 0.41 EPS for the current fiscal year.

Institutional Trading of Chime Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System bought a new position in shares of Chime Financial in the 2nd quarter worth $59,367,000. Comprehensive Financial Management LLC boosted its holdings in Chime Financial by 2.4% during the second quarter. Comprehensive Financial Management LLC now owns 565,976 shares of the company’s stock worth $11,591,000 after buying an additional 13,225 shares during the last quarter. Spyglass Capital Management LLC grew its position in shares of Chime Financial by 162.6% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock worth $69,760,000 after buying an additional 2,109,057 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Chime Financial in the 2nd quarter valued at about $1,517,000. Finally, Ranger Investment Management L.P. acquired a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $24,344,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group raised 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. Canaccord Genuity Group increased their target price on Chime Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Freedom Capital raised Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Weiss Ratings lowered shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

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.