Chime Financial (NASDAQ:CHYM) CEO Sells $5,838,000.00 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.19, for a total transaction of $5,838,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Performance

Shares of Chime Financial stock traded up $1.75 during trading on Monday, reaching $30.85. The company had a trading volume of 8,443,004 shares, compared to its average volume of 7,993,546. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $33.41. The firm’s fifty day moving average is $20.76 and its 200-day moving average is $20.83.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The firm had revenue of $669.77 million during the quarter. During the same period in the prior year, the firm earned ($7.29) earnings per share. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. Equities analysts forecast that Chime Financial, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Chime Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. Weiss Ratings raised Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Canaccord Genuity Group upped their price target on shares of Chime Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chime Financial currently has an average rating of “Moderate Buy” and a consensus price target of $31.06.

Hedge Funds Weigh In On 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 raised its stake in Chime Financial by 13.8% during the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock valued at $357,225,000 after acquiring an additional 1,721,731 shares in the last quarter. Aspect Management LLC acquired a new position in shares of Chime Financial during the fourth quarter valued at $300,361,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Chime Financial during the fourth quarter valued at about $129,091,000. Orland Properties Ltd bought a new stake in shares of Chime Financial during the second quarter valued at about $159,093,000. Finally, Scge Management L.P. acquired a new stake in Chime Financial in the second quarter worth about $152,563,000.

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.