Chime Financial (NASDAQ:CHYM) Insider Sells $1,470,000.00 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) insider Ryan King sold 50,000 shares of Chime Financial stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $29.40, for a total value of $1,470,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Up 3.3%

Shares of CHYM opened at $29.96 on Friday. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $35.55. The stock has a 50 day simple moving average of $30.82 and a two-hundred day simple moving average of $23.90.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. Chime Financial’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the business posted ($7.29) EPS. On average, equities research analysts forecast that Chime Financial, Inc. will post 0.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets upped their target price on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 3rd. Wolfe Research boosted their price objective on 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 boosted their target price on shares of Chime Financial from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Finally, UBS Group boosted their price target on Chime Financial from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHYM. NFSG Corp acquired a new stake in shares of Chime Financial in the third quarter worth $27,000. Curated Wealth Partners LLC purchased a new position in shares of Chime Financial during the third quarter valued at $303,000. Krilogy Financial LLC acquired a new position in Chime Financial during the third quarter valued at $565,000. NorthCrest Asset Manangement LLC acquired a new position in Chime Financial during the third quarter valued at $555,000. Finally, GAMMA Investing LLC raised its position in Chime Financial by 1,316.3% during the third quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock valued at $58,000 after buying an additional 2,014 shares during the period.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company’s product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.