Christopher Britt Sells 200,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 200,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $32.04, for a total value of $6,408,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $33.76 on Friday. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $34.44. The business has a fifty day moving average price of $26.49 and a 200-day moving average price of $22.05. The company has a market capitalization of $12.78 billion, a PE ratio of -482.22 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($7.29) EPS. On average, sell-side analysts anticipate that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHYM has been the topic of several analyst reports. Scotiabank initiated coverage on Chime Financial in a research report on Wednesday. They issued a “sector outperform” rating and a $40.00 price objective on the stock. UBS Group boosted their price target on Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. BMO Capital Markets increased their price objective on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Canaccord Genuity Group boosted their target price on Chime Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley raised their price target on shares of Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and a consensus target price of $32.74.

Institutional Investors Weigh In On Chime Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Aspect Management LLC acquired a new stake in shares of Chime Financial in the fourth quarter valued at about $300,361,000. Orland Properties Ltd acquired a new stake in shares of Chime Financial during the 2nd quarter worth approximately $159,093,000. Scge Management L.P. acquired a new position in Chime Financial in the second quarter valued at approximately $152,563,000. California State Teachers Retirement System purchased a new stake in Chime Financial in the 2nd quarter valued at about $59,367,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Chime Financial by 2,720.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after purchasing an additional 2,658,816 shares during the last quarter.

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.