Christopher Britt Sells 100,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 100,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $34.03, for a total value of $3,403,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Price Performance

NASDAQ:CHYM opened at $33.41 on Thursday. Chime Financial, Inc. has a one year low of $15.88 and a one year high of $34.16. The company has a market cap of $12.65 billion, a PE ratio of -477.22 and a beta of 0.60. The firm’s 50 day simple moving average is $25.92 and its 200 day simple moving average is $21.87.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the company posted ($7.29) earnings per share. Equities research analysts expect that Chime Financial, Inc. will post 0.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Barclays lifted their price objective on Chime Financial from $26.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wolfe Research increased their target price on shares of Chime Financial from $32.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. The Goldman Sachs Group raised their price target on shares of Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.74.

Key Stories Impacting Chime Financial

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

• Positive Sentiment: Scotiabank initiated coverage of Chime Financial with a “Sector Outperform” rating and a $40 price target, implying approximately 19.7% potential upside from the referenced price. Scotiabank Initiates Chime Financial at Sector Outperform
• Positive Sentiment: CHYM was added to the Zacks Rank #1, or “Strong Buy,” list, adding another bullish signal for the stock. New Strong Buy Stocks for September 2nd
• Positive Sentiment: Brokerage sentiment remains favorable, with 14 buy ratings, four strong-buy ratings, three holds and one sell among 22 analysts. The consensus recommendation is “Moderate Buy,” supported by several recent price-target increases, including Wells Fargo’s $39 target. Chime Financial Receives Average Rating of Moderate Buy
• Neutral Sentiment: Institutional investors have established or expanded sizable positions in Chime Financial, potentially improving investor confidence, although the filings do not necessarily indicate current buying activity.
• Negative Sentiment: CEO Christopher Britt sold 100,000 shares worth approximately $3.4 million. Because the sale was made under a pre-arranged Rule 10b5-1 plan, it may be less concerning than discretionary insider selling, but it still adds some near-term supply and caution. Chime Financial CEO Sells 100,000 Shares

Institutional Investors Weigh In On Chime Financial

Several institutional investors and hedge funds have recently made changes to their positions in CHYM. PNC Financial Services Group Inc. acquired a new stake in Chime Financial during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new position in shares of Chime Financial during the 2nd quarter worth approximately $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial in the 2nd quarter valued at $40,000.

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.