Chime Financial (NASDAQ:CHYM) Stock: Insider Ryan King Sells 11,318 Shares

Chime Financial, Inc. (NASDAQ:CHYM) insider Ryan King sold 11,318 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $31.03, for a total transaction of $351,197.54. Following the transaction, the insider owned 37,812 shares of the company’s stock, valued at approximately $1,173,306.36. This trade represents a 23.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Trading Down 0.7%

CHYM stock traded down $0.21 on Thursday, hitting $30.16. 2,091,788 shares of the company’s stock traded hands, compared to its average volume of 5,433,875. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of -430.80 and a beta of 0.83. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $35.55. The stock has a fifty day moving average of $30.76 and a 200-day moving average of $24.23.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm had revenue of $669.77 million for the quarter. During the same quarter last year, the firm posted ($7.29) EPS. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, equities research analysts anticipate that Chime Financial, Inc. will post 0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chime Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. NFSG Corp acquired a new stake in shares of Chime Financial during the 3rd quarter valued at $27,000. Reyes Financial Architecture Inc. acquired a new position in shares of Chime Financial in the third quarter worth $39,000. Nisa Investment Advisors LLC raised its holdings in shares of Chime Financial by 529.7% during the third quarter. Nisa Investment Advisors LLC now owns 1,889 shares of the company’s stock worth $50,000 after acquiring an additional 1,589 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Chime Financial by 2.4% during the third quarter. Farther Finance Advisors LLC now owns 72,666 shares of the company’s stock worth $1,936,000 after acquiring an additional 1,672 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Chime Financial by 6.5% in the first quarter. SG Americas Securities LLC now owns 32,954 shares of the company’s stock valued at $617,000 after purchasing an additional 2,002 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on CHYM. Keefe, Bruyette & Woods upped their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Morgan Stanley lifted their price objective on shares of Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Scotiabank lifted their price objective on shares of Chime Financial from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 9th. Rothschild & Co Redburn raised shares of Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Monday, September 14th. Finally, Raymond James Financial set a $35.00 target price on Chime Financial in a report on Thursday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.38.

About Chime Financial

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime’s products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.