Chime Financial (NASDAQ:CHYM) CFO Matthew Newcomb Sells 10,000 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) CFO Matthew Newcomb sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.01, for a total value of $280,100.00. Following the completion of the transaction, the chief financial officer directly owned 2,240,798 shares in the company, valued at $62,764,751.98. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Chime Financial Stock Down 4.3%

Chime Financial stock opened at $26.72 on Wednesday. Chime Financial, Inc. has a 52-week low of $16.17 and a 52-week high of $44.94. The company has a market cap of $10.01 billion and a P/E ratio of -3.59. The business has a 50-day simple moving average of $23.48 and a two-hundred day simple moving average of $25.08.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.10. The business had revenue of $543.52 million during the quarter. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.34) EPS.

Analyst Upgrades and Downgrades

CHYM has been the subject of a number of recent research reports. Piper Sandler cut their price objective on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered their target price on Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. UBS Group cut their price target on Chime Financial from $37.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research note on Thursday, October 30th. Finally, B. Riley began coverage on Chime Financial in a research report on Thursday, December 11th. They set a “buy” rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average price target of $32.44.

Institutional Investors Weigh In On Chime Financial

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the 2nd quarter valued at approximately $34,000. Daiwa Securities Group Inc. purchased a new position in Chime Financial in the 2nd quarter worth approximately $40,000. Osaic Holdings Inc. bought a new position in Chime Financial in the 2nd quarter worth approximately $45,000. Finally, Farther Finance Advisors LLC purchased a new stake in Chime Financial during the 3rd quarter valued at approximately $50,000.

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.