Chime Financial, Inc. (NASDAQ:CHYM – Get Free Report) CEO Christopher Britt sold 200,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $32.04, for a total transaction of $6,408,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Chime Financial Stock Up 0.7%
Shares of CHYM opened at $33.65 on Friday. The stock has a market capitalization of $12.74 billion, a P/E ratio of -480.65 and a beta of 0.60. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $34.44. The firm has a fifty day simple moving average of $26.22 and a two-hundred day simple moving average of $21.97.
Chime Financial (NASDAQ:CHYM – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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 net margin of 0.74% and a negative return on equity of 1.28%. Chime Financial’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($7.29) EPS. Sell-side analysts expect that Chime Financial, Inc. will post 0.41 EPS for the current fiscal year.
Chime Financial News Roundup
- Positive Sentiment: Scotiabank initiated coverage with a “sector outperform” rating and a $40 price target, implying roughly 19% upside from the referenced trading level. The new bullish coverage adds to a generally favorable analyst outlook. Scotiabank Initiates Chime Financial at Sector Outperform
- Positive Sentiment: CHYM was added to the Zacks Rank #1, or “Strong Buy,” list for September 2, reinforcing momentum-oriented investor interest. New Strong Buy Stocks for September 2nd
- Positive Sentiment: Chime’s latest quarterly results showed revenue growth of 26.8% year over year and earnings of $0.07 per share, beating the consensus estimate by $0.08. The results indicate improving operating performance, although the company remained slightly unprofitable on a net-margin basis.
- Positive Sentiment: Recent filings showed new or expanded positions from several institutional investors, including Aspect Management, Orland Properties, Scge Management, CalSTRS and Arrowstreet Capital. Such buying can support sentiment and liquidity around the stock.
- Neutral Sentiment: Brokerages maintain a consensus “Moderate Buy” rating. However, the previously reported average price target of $32.33 is below the referenced trading level, suggesting some analysts may view the recent rally as having already exceeded fundamental targets.
- Negative Sentiment: CEO Christopher Britt sold a combined 300,000 shares for approximately $9.8 million in transactions dated August 28 and September 1. Both sales were conducted under pre-arranged Rule 10b5-1 plans, which reduces their significance as a discretionary bearish signal but could still weigh on sentiment.
Wall Street Analyst Weigh In
A number of research analysts have commented on CHYM shares. Keefe, Bruyette & Woods upped their price target on Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. The Goldman Sachs Group lifted their price objective on Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Freedom Capital raised Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. UBS Group upped their target price on Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.74.
Check Out Our Latest Stock Report on Chime Financial
Institutional Trading of Chime Financial
Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in shares of Chime Financial during the 2nd quarter worth approximately $693,000. Legal & General Group Plc bought a new stake in shares of Chime Financial during the second quarter valued at approximately $136,000. Russell Investments Group Ltd. bought a new stake in shares of Chime Financial during the second quarter valued at approximately $958,000. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial in the second quarter worth $33,000. Finally, Marshall Wace LLP purchased a new stake in Chime Financial in the second quarter worth $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.
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