Insider Selling: Chime Financial (NASDAQ:CHYM) CEO Sells $1,403,000.00 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total transaction of $1,403,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Chime Financial Stock Up 0.6%

NASDAQ CHYM opened at $25.84 on Friday. The firm has a 50-day moving average price of $23.76 and a two-hundred day moving average price of $25.08. Chime Financial, Inc. has a 12-month low of $16.17 and a 12-month high of $44.94. The company has a market capitalization of $9.68 billion and a P/E ratio of -3.47.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHYM. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial in the second quarter valued at approximately $34,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial during the second quarter worth $40,000. Osaic Holdings Inc. acquired a new position in shares of Chime Financial during the second quarter worth $45,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Chime Financial during the third quarter worth $50,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. William Blair reiterated an “outperform” rating on shares of Chime Financial in a research note on Tuesday, September 30th. Williams Trading set a $17.00 target price on shares of Chime Financial in a research report on Monday, November 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Chime Financial in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Chime Financial in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.44.

Chime Financial Company Profile

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.