Insider Selling: Chime Financial (NASDAQ:CHYM) CFO Sells 65,000 Shares

Chime Financial, Inc. (NASDAQ:CHYM) CFO Matthew Newcomb sold 65,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $30.17, for a total transaction of $1,961,050.00. Following the completion of the sale, the chief financial officer directly owned 2,216,070 shares of the company’s stock, valued at $66,858,831.90. The trade was a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Price Performance

Shares of Chime Financial stock traded up $1.75 during mid-day trading on Monday, hitting $30.85. 8,443,004 shares of the stock were exchanged, compared to its average volume of 7,993,546. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $33.41. The company has a 50-day simple moving average of $20.76 and a 200 day simple moving average of $20.83.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.Chime Financial’s quarterly revenue 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, equities analysts predict that Chime Financial, Inc. will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Chime Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Aspect Management LLC purchased a new position in shares of Chime Financial during the 4th quarter valued at $300,361,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Chime Financial during the 4th quarter worth $129,091,000. Orland Properties Ltd purchased a new stake in Chime Financial in the 2nd quarter worth about $159,093,000. Scge Management L.P. purchased a new stake in Chime Financial in the 2nd quarter worth about $152,563,000. Finally, Arrowstreet Capital Limited Partnership raised its stake 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 acquiring an additional 2,658,816 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CHYM shares. BMO Capital Markets upped their price objective on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group lifted their target price on Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings raised shares of Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and reduced their price target for the company from $33.00 to $27.00 in a research report on Monday, April 13th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.06.

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.