Chime Financial (NASDAQ:CHYM) Director Sells 302,306 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) Director Shawn Carolan sold 302,306 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $33.21, for a total value of $10,039,582.26. Following the completion of the sale, the director directly owned 1,800 shares of the company’s stock, valued at approximately $59,778. This trade represents a 99.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Chime Financial Stock Performance

CHYM traded up $0.97 on Monday, hitting $33.97. 9,854,087 shares of the company were exchanged, compared to its average volume of 6,981,155. The firm has a fifty day simple moving average of $27.98 and a two-hundred day simple moving average of $22.62. The stock 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 12 month low of $15.88 and a 12 month high of $35.55.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share 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 firm had revenue of $669.77 million during the quarter. During the same period last year, the company posted ($7.29) EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, equities analysts expect that Chime Financial, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets raised their target price on Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Barclays boosted their target price on Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Wolfe Research raised their price target on Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. 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, Weiss Ratings raised shares of Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $36.20.

Chime Financial News Roundup

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Analyst upgrades and higher price targets: Rothschild & Co Redburn upgraded Chime from “neutral” to “buy” and assigned a $46 price target. B. Riley Financial also maintained a “buy” rating while raising its target from $37 to $44. The targets imply roughly 29.5% to 35.4% potential upside from the referenced $33.97 share-price level, signaling stronger confidence in Chime’s growth prospects.
• Neutral Sentiment: Shares are trading near their 12-month high: Chime’s stock has risen substantially above its 50-day and 200-day moving averages and is near its 12-month high of $35.55. Elevated trading volume suggests strong investor interest, but the move could also increase volatility after the recent rally.
• Negative Sentiment: Directors reported substantial stock sales: Director James Feuille sold 258,398 shares for approximately $8.5 million, reducing one reported holding by 88.25%. He also sold an additional 93,492 shares for about $3.1 million, a 1.33% reduction in another position. Director Cynthia Marshall separately sold 20,000 shares worth approximately $661,800, reducing her position by 41.2%. The sales were disclosed in SEC insider-trading filing and SEC filing for Cynthia Marshall. While insider sales can reflect diversification or scheduled transactions, the size of the disposals represents a potential near-term sentiment headwind.

Institutional Investors Weigh In On Chime Financial

A number of institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP bought a new position in Chime Financial in the 2nd quarter worth about $1,810,000. Arizona State Retirement System bought a new position in shares of Chime Financial in the second quarter worth approximately $692,000. Light Street Capital Management LLC lifted its stake in shares of 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 worth $45,037,000 after buying an additional 121,474 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Chime Financial during the second quarter valued at approximately $7,828,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Chime Financial during the second quarter valued at approximately $59,367,000.

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.