Chime Financial (NASDAQ:CHYM) Director Sells $9,155,081.35 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) Director Shawn Carolan sold 277,007 shares of Chime Financial stock in a transaction on Friday, September 11th. The stock was sold at an average price of $33.05, for a total transaction of $9,155,081.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chime Financial Stock Down 7.0%

Shares of NASDAQ CHYM opened at $31.25 on Thursday. The stock’s 50 day moving average price is $28.44 and its two-hundred day moving average price is $22.76. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $35.55. The stock has a market capitalization of $11.83 billion, a P/E ratio of -446.36 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $669.77 million during the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.Chime Financial’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($7.29) earnings per share. On average, analysts anticipate that Chime Financial, Inc. will post 0.44 EPS for the current year.

Trending Headlines about Chime Financial

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Analysts remain bullish: Goldman Sachs raised its price target to $37 and maintained a “Buy” rating. B. Riley lifted its target to $44, while Rothschild & Co Redburn upgraded CHYM to “Buy” with a $46 target. These calls indicate continued confidence in Chime’s growth outlook. B. Riley raises Chime price target Rothschild upgrades Chime
• Positive Sentiment: Bank acquisition offers strategic upside: Chime agreed to acquire Central Service Corporation, the parent of Stride Bank, for $590 million in cash. Pending regulatory approvals, the transaction would allow Stride to become Chime Bank, N.A., giving Chime greater control over its banking infrastructure and potentially improving long-term economics. Chime bank acquisition analysis
• Positive Sentiment: Operating momentum remains favorable: Chime’s latest results showed revenue growth of 26.8% year over year, 10.4 million active members and a second consecutive quarter of GAAP profitability. The company also raised its full-year outlook.
• Neutral Sentiment: New York expansion: Chime opened a new office in New York, supporting its corporate and hiring footprint, although the announcement is unlikely to materially change near-term earnings expectations. Chime opens New York office
• Negative Sentiment: Heavy insider selling is a sentiment headwind: General Counsel Adam Frankel sold 102,002 shares for about $3.4 million, and Director James Feuille sold 352,237 shares worth roughly $11.6 million across two transactions. A major shareholder also sold 207,513 shares for approximately $6.9 million. Recent disclosures show numerous insider sales and no reported open-market purchases over the past six months. Some transactions were conducted under pre-arranged Rule 10b5-1 plans, but the volume may still reinforce profit-taking concerns. SEC insider sale filing
• Negative Sentiment: Acquisition risks are being reassessed: Investors are weighing regulatory approval, integration costs and capital requirements associated with the Stride transaction. After the recent run-up, these uncertainties have contributed to increased volatility and pressure on CHYM.

Analysts Set New Price Targets

CHYM has been the topic of a number of research reports. The Goldman Sachs Group increased their target price on shares of Chime Financial from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity Group increased their price objective on shares of Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Keefe, Bruyette & Woods raised their target price on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. Finally, Scotiabank upped their target price on Chime Financial from $40.00 to $42.00 and gave the company a “sector outperform” rating in a report on Wednesday, September 9th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $36.40.

Hedge Funds Weigh In On Chime Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its holdings in shares of Chime Financial by 2,720.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after purchasing an additional 2,658,816 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of Chime Financial during the 4th quarter valued at $58,214,000. Spyglass Capital Management LLC lifted its position in shares of Chime Financial by 162.6% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after acquiring an additional 2,109,057 shares during the last quarter. Owls Nest Partners IA LLC bought a new stake in shares of Chime Financial during the 4th quarter worth $47,065,000. Finally, Atreides Management LP bought a new stake in shares of Chime Financial during the 4th quarter worth $37,850,000.

About Chime Financial

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.