Insider Selling: Chime Financial (NASDAQ:CHYM) Insider Sells 375,000 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) insider Ryan King sold 375,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $30.27, for a total transaction of $11,351,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Up 6.0%

Chime Financial stock traded up $1.75 during mid-day trading on Monday, reaching $30.85. The company’s stock had a trading volume of 8,443,004 shares, compared to its average volume of 7,993,546. The firm’s fifty day moving average price is $20.76 and its two-hundred day moving average price is $20.83. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $33.41.

Chime Financial (NASDAQ:CHYM) 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 firm 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%.Chime Financial’s revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the business earned ($7.29) earnings per share. On average, analysts predict that Chime Financial, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CHYM shares. The Goldman Sachs Group upped their price target on Chime Financial from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group raised their price objective on shares of Chime Financial from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. Wolfe Research reaffirmed an “outperform” rating and set a $32.00 target price on shares of Chime Financial in a report on Thursday. Finally, Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Three equities research 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 issued a Sell rating to the stock. According to MarketBeat, Chime Financial has an average rating of “Moderate Buy” and a consensus target price of $31.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial in the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in Chime Financial during the second quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the second quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd grew its stake in Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after buying an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Chime Financial in the 2nd quarter worth approximately $40,000.

Chime Financial Company Profile

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.