Chime Financial (NASDAQ:CHYM) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Chime Financial (NASDAQ:CHYM) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other analysts also recently issued reports on CHYM. Piper Sandler dropped their price objective on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Rothschild & Co Redburn raised Chime Financial to a “hold” rating in a research note on Monday, January 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a report on Thursday, October 30th. The Goldman Sachs Group raised their price objective on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, UBS Group cut their target price on Chime Financial from $37.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chime Financial presently has an average rating of “Moderate Buy” and a consensus target price of $32.24.

Chime Financial Trading Up 2.8%

CHYM stock opened at $22.40 on Friday. The company’s 50 day moving average is $25.47 and its 200 day moving average is $24.11. The stock has a market cap of $8.39 billion and a price-to-earnings ratio of -3.01. Chime Financial has a 1-year low of $16.17 and a 1-year high of $44.94.

Insider Buying and Selling

In other news, CEO Christopher R. 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew S. Newcomb sold 10,000 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the sale, the chief financial officer directly owned 2,240,798 shares of the company’s stock, valued at $62,764,751.98. The trade was a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 256,539 shares of company stock worth $6,973,943.

Institutional Investors Weigh In On Chime Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial during the second quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in shares of Chime Financial during the 2nd quarter valued at about $34,000. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial during the fourth quarter valued at about $25,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial in the second quarter worth about $40,000. Finally, Osaic Holdings Inc. bought a new stake in Chime Financial during the 2nd quarter valued at approximately $45,000.

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.