Insider Selling: Chime Financial (NASDAQ:CHYM) General Counsel Sells $54,000.00 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total transaction of $54,000.00. Following the completion of the sale, the general counsel owned 306,795 shares in the company, valued at $5,522,310. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Chime Financial Stock Performance

NASDAQ:CHYM opened at $16.70 on Friday. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $38.67. The stock has a market capitalization of $6.36 billion and a P/E ratio of -2.25. The company’s 50-day simple moving average is $19.55 and its 200-day simple moving average is $21.89.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The business had revenue of $647.39 million for the quarter. The business’s quarterly revenue was up 24.8% on a year-over-year basis. On average, research analysts forecast that Chime Financial, Inc. will post 0.3 EPS for the current year.

Hedge Funds Weigh In On Chime Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the 2nd quarter worth approximately $33,000. Scopus Asset Management L.P. purchased a new position in Chime Financial during the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd raised its position in Chime Financial by 686.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after buying an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Chime Financial during the 2nd quarter worth approximately $40,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CHYM shares. UBS Group increased their price objective on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $33.00 to $27.00 in a research report on Monday, April 13th. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chime Financial has a consensus rating of “Moderate Buy” and a consensus price target of $31.65.

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.