Insider Selling: Chime Financial (NASDAQ:CHYM) CEO Sells 50,000 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) CEO Christopher Britt sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.06, for a total value of $1,403,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Chime Financial Stock Down 4.3%

Shares of CHYM stock traded down $1.21 during trading hours on Tuesday, reaching $26.72. 4,775,826 shares of the company’s stock were exchanged, compared to its average volume of 3,484,727. Chime Financial, Inc. has a fifty-two week low of $16.17 and a fifty-two week high of $44.94. The stock has a market capitalization of $10.01 billion and a P/E ratio of -3.59. The business has a fifty day moving average price of $23.30 and a 200-day moving average price of $25.12.

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

Institutional Investors Weigh In On Chime Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of Chime Financial by 111.6% in the 4th quarter. SG Americas Securities LLC now owns 30,952 shares of the company’s stock worth $779,000 after purchasing an additional 16,322 shares during the last quarter. Davis Selected Advisers bought a new stake in Chime Financial during the third quarter worth about $48,391,000. Lunate Capital Ltd bought a new stake in Chime Financial during the third quarter worth about $36,503,000. Armistice Capital LLC acquired a new position in shares of Chime Financial in the 3rd quarter worth approximately $257,000. Finally, Dark Forest Capital Management LP bought a new stake in Chime Financial during the 3rd quarter worth approximately $1,185,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CHYM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Chime Financial in a research report on Wednesday, October 8th. UBS Group reduced their price objective on Chime Financial from $37.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Arete Research upgraded Chime Financial to a “strong-buy” rating in a research report on Tuesday, September 30th. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group lifted their price target on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.