Chime Financial (NASDAQ:CHYM) Director Shawn Carolan Sells 277,007 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) Director Shawn Carolan sold 277,007 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $33.05, for a total transaction of $9,155,081.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Chime Financial Stock Performance

NASDAQ CHYM traded up $0.97 during mid-day trading on Monday, reaching $33.97. 9,854,087 shares of the stock were exchanged, compared to its average volume of 6,981,155. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $35.55. The business’s fifty day simple moving average is $27.98 and its 200 day simple moving average is $22.62. The stock has a market capitalization of $12.86 billion, a PE ratio of -485.22 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company had revenue of $669.77 million during the quarter. During the same quarter last year, the firm posted ($7.29) earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. On average, analysts anticipate that Chime Financial, Inc. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CHYM shares. Wolfe Research increased their target price on Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Wells Fargo & Company lifted their price target on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 25th. Canaccord Genuity Group upped their price objective on shares of Chime Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. UBS Group increased their price objective on shares of Chime Financial from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Finally, Morgan Stanley raised their target price on shares of Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $36.20.

Chime Financial News Roundup

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

• Positive Sentiment: Analyst upgrades and higher price targets: Rothschild & Co Redburn upgraded Chime from “neutral” to “buy” and assigned a $46 price target. B. Riley Financial also maintained a “buy” rating while raising its target from $37 to $44. The targets imply roughly 29.5% to 35.4% potential upside from the referenced $33.97 share-price level, signaling stronger confidence in Chime’s growth prospects.
• Neutral Sentiment: Shares are trading near their 12-month high: Chime’s stock has risen substantially above its 50-day and 200-day moving averages and is near its 12-month high of $35.55. Elevated trading volume suggests strong investor interest, but the move could also increase volatility after the recent rally.
• Negative Sentiment: Directors reported substantial stock sales: Director James Feuille sold 258,398 shares for approximately $8.5 million, reducing one reported holding by 88.25%. He also sold an additional 93,492 shares for about $3.1 million, a 1.33% reduction in another position. Director Cynthia Marshall separately sold 20,000 shares worth approximately $661,800, reducing her position by 41.2%. The sales were disclosed in SEC insider-trading filing and SEC filing for Cynthia Marshall. While insider sales can reflect diversification or scheduled transactions, the size of the disposals represents a potential near-term sentiment headwind.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spyglass Capital Management LLC grew its position in Chime Financial by 162.6% during the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after acquiring an additional 2,109,057 shares during the period. California State Teachers Retirement System purchased a new stake in shares of Chime Financial during the 2nd quarter worth about $59,367,000. Arrowstreet Capital Limited Partnership increased its position in Chime Financial by 2,720.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after purchasing an additional 2,658,816 shares in the last quarter. Ieq Capital LLC purchased a new position in Chime Financial in the fourth quarter valued at approximately $58,214,000. Finally, Light Street Capital Management LLC raised its holdings in Chime Financial by 5.8% in the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock valued at $45,037,000 after buying an additional 121,474 shares during the period.

About Chime Financial

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.