Chime Financial (NASDAQ:CHYM) Stock: Insider Ryan King Sells 11,318 Shares

Chime Financial, Inc. (NASDAQ:CHYM) insider Ryan King sold 11,318 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $31.03, for a total transaction of $351,197.54. Following the sale, the insider owned 37,812 shares of the company’s stock, valued at approximately $1,173,306.36. This represents a 23.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $29.57 on Friday. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $35.55. The company has a market cap of $11.19 billion, a PE ratio of -422.37 and a beta of 0.83. The stock’s 50-day moving average is $30.67 and its 200 day moving average is $24.34.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted ($7.29) EPS. Analysts expect that Chime Financial, Inc. will post 0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on CHYM shares. Morgan Stanley raised their price target on Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Canaccord Genuity Group upped their price objective on shares of Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Loop Capital initiated coverage on shares of Chime Financial in a research report on Wednesday, September 9th. They issued a “buy” rating and a $45.00 target price for the company. Finally, BMO Capital Markets lifted their target price on shares of Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI grew its position in Chime Financial by 55.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 40,903 shares of the company’s stock valued at $1,090,000 after purchasing an additional 14,585 shares during the last quarter. MBL Wealth LLC purchased a new position in Chime Financial in the third quarter worth about $235,000. Root Financial Partners LLC purchased a new position in Chime Financial in the third quarter worth about $70,000. Reyes Financial Architecture Inc. purchased a new position in Chime Financial in the third quarter worth about $39,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Chime Financial by 529.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,889 shares of the company’s stock worth $50,000 after buying an additional 1,589 shares in the last quarter.

About Chime Financial

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime’s products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.