Chime Financial (NASDAQ:CHYM) CEO Christopher Britt Sells 50,000 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 50,000 shares of Chime Financial stock in a transaction on Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Chime Financial Stock Down 4.3%

Shares of NASDAQ CHYM traded down $1.21 during mid-day trading on Tuesday, hitting $26.72. 4,775,826 shares of the company traded hands, compared to its average volume of 3,484,727. Chime Financial, Inc. has a 1 year low of $16.17 and a 1 year high of $44.94. The stock has a market capitalization of $10.01 billion and a price-to-earnings ratio of -3.59. The business has a 50 day moving average of $23.30 and a two-hundred day moving average of $25.12.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The company had revenue of $543.52 million during the quarter. During the same quarter in the prior year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was up 28.8% compared to the same quarter last year.

Analyst Ratings Changes

CHYM has been the topic of several recent analyst reports. B. Riley assumed coverage on shares of Chime Financial in a research note on Thursday, December 11th. They set a “buy” rating and a $35.00 target price on the stock. Jefferies Financial Group assumed coverage on Chime Financial in a research report on Monday, November 3rd. They set a “hold” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Keefe, Bruyette & Woods lowered their target price on Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Finally, William Blair reissued an “outperform” rating on shares of Chime Financial in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.44.

Institutional Investors Weigh In On Chime Financial

Several institutional investors have recently made changes to their positions in CHYM. SG Americas Securities LLC lifted its stake in shares of Chime Financial by 111.6% in the fourth quarter. SG Americas Securities LLC now owns 30,952 shares of the company’s stock worth $779,000 after buying an additional 16,322 shares during the last quarter. Davis Selected Advisers acquired a new position in Chime Financial in the 3rd quarter valued at $48,391,000. Lunate Capital Ltd bought a new position in Chime Financial in the 3rd quarter worth $36,503,000. Armistice Capital LLC acquired a new position in Chime Financial during the 3rd quarter worth $257,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Chime Financial in the third quarter valued at about $1,185,000.

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.