Chime Financial (NASDAQ:CHYM) General Counsel Adam Frankel Sells 3,000 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total transaction of $54,000.00. Following the completion of the transaction, the general counsel owned 306,795 shares of the company’s stock, valued at $5,522,310. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Chime Financial Trading Down 3.7%

Shares of NASDAQ:CHYM opened at $16.44 on Thursday. The stock has a market capitalization of $6.26 billion and a PE ratio of -2.21. The firm has a 50 day moving average of $19.62 and a 200-day moving average of $21.94. Chime Financial, Inc. has a 12 month low of $16.17 and a 12 month high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The company had revenue of $647.39 million for the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The firm’s revenue was up 24.8% on a year-over-year basis. On average, research analysts predict that Chime Financial, Inc. will post 0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Chime Financial

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Chime Financial during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial during the second quarter worth $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial during the second quarter worth $34,000. Caitong International Asset Management Co. Ltd increased its position in shares of Chime Financial by 686.0% during the fourth 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 during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial during the second quarter worth $40,000.

Analyst Ratings Changes

CHYM has been the subject of several research reports. Texas Capital upgraded Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. UBS Group boosted their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Finally, KeyCorp assumed coverage on shares of Chime Financial in a report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average target price of $31.65.

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.