Adam Frankel Sells 500 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 500 shares of Chime Financial stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $27.00, for a total value of $13,500.00. Following the sale, the general counsel directly owned 252,416 shares of the company’s stock, valued at approximately $6,815,232. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Chime Financial Trading Down 4.7%

Shares of CHYM traded down $1.30 during midday trading on Friday, reaching $26.19. 5,608,643 shares of the stock were exchanged, compared to its average volume of 3,444,929. Chime Financial, Inc. has a 52 week low of $16.17 and a 52 week high of $44.94. The firm has a 50 day moving average price of $20.15.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million during the quarter. During the same period in the prior year, the firm earned ($0.34) EPS. Chime Financial’s quarterly revenue was up 28.8% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CHYM shares. Keefe, Bruyette & Woods lowered their price target on shares of Chime Financial from $42.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. William Blair reissued an “outperform” rating on shares of Chime Financial in a research note on Tuesday, September 30th. Piper Sandler dropped their target price on Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. B. Riley began coverage on Chime Financial in a report on Thursday. They issued a “buy” rating and a $35.00 price target on the stock. Finally, The Goldman Sachs Group upgraded Chime Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $27.00 in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Institutional Investors Weigh In On Chime Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC purchased a new position in shares of Chime Financial in the 2nd quarter valued at approximately $9,519,000. Norges Bank purchased a new stake in Chime Financial during the 2nd quarter worth approximately $24,157,000. Seven Grand Managers LLC acquired a new position in Chime Financial during the 2nd quarter valued at approximately $3,451,000. Franklin Resources Inc. purchased a new position in shares of Chime Financial in the second quarter worth $24,157,000. Finally, Greenhouse Funds LLLP purchased a new position in shares of Chime Financial in the second quarter worth $26,153,000.

About Chime Financial

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.