Chime Financial (NASDAQ:CHYM) CEO Christopher Britt Sells 100,000 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 100,000 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $34.03, for a total value of $3,403,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Down 4.4%

Shares of CHYM stock opened at $31.66 on Wednesday. The business has a 50-day moving average price of $25.60 and a two-hundred day moving average price of $21.77. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $34.16. The firm has a market cap of $11.99 billion, a P/E ratio of -452.22 and a beta of 0.30.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate 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 revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the company posted ($7.29) earnings per share. As a group, research analysts expect that Chime Financial, Inc. will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on CHYM shares. Morgan Stanley lifted their target price on shares of Chime Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods raised their price objective on Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. UBS Group lifted their price objective on Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings cut Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Finally, Wolfe Research lifted their price target on Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tiger Global Management LLC lifted its position in shares of Chime Financial by 13.8% in the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after purchasing an additional 1,721,731 shares during the period. Aspect Management LLC purchased a new position in shares of Chime Financial during the fourth quarter valued at about $300,361,000. Orland Properties Ltd bought a new position in Chime Financial in the second quarter worth about $159,093,000. Scge Management L.P. bought a new position in Chime Financial in the second quarter worth about $152,563,000. Finally, Spyglass Capital Management LLC lifted its holdings in Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock worth $69,760,000 after buying an additional 2,109,057 shares during the period.

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.