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

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the sale, the general counsel owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Chime Financial Trading Down 3.3%

Shares of CHYM stock traded down $0.59 during trading hours on Tuesday, hitting $17.05. 3,826,734 shares of the company were exchanged, compared to its average volume of 4,262,830. The firm has a fifty day simple moving average of $19.52 and a 200 day simple moving average of $21.89. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $38.67. The stock has a market capitalization of $6.50 billion and a price-to-earnings ratio of -2.29.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. KeyCorp initiated coverage on shares of Chime Financial in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHYM. JPMorgan Chase & Co. purchased a new position in shares of Chime Financial during the 2nd quarter valued at $693,000. Legal & General Group Plc purchased a new position in shares of Chime Financial during the 2nd quarter valued at $136,000. Russell Investments Group Ltd. purchased a new position in shares of Chime Financial during the 2nd quarter valued at $958,000. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial during the 2nd quarter valued at $33,000. Finally, Marshall Wace LLP purchased a new position in shares of Chime Financial during the 2nd quarter valued at $9,087,000.

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.