Key Points
- Chime Financial General Counsel Adam Frankel sold 6,760 shares at an average price of $23.84 on Dec. 8, generating $161,158.40 and reducing his stake by 2.69% to 244,416 shares (valued about $5.83M).
- Chime beat expectations for the quarter with EPS of ($0.15) versus a ($0.25) consensus and reported revenue of $543.5M, up 28.8% year-over-year.
- Analysts hold a consensus rating of "Moderate Buy" for CHYM with an average price target of $32.25, reflecting mixed views from sell to strong buy.
Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) General Counsel Adam Frankel sold 6,760 shares of the company's stock in a transaction on Monday, December 8th. The shares were sold at an average price of $23.84, for a total value of $161,158.40. Following the completion of the sale, the general counsel owned 244,416 shares in the company, valued at $5,826,877.44. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Chime Financial Price Performance
Shares of NASDAQ CHYM opened at $26.47 on Thursday. Chime Financial, Inc. has a 52-week low of $16.17 and a 52-week high of $44.94. The firm's fifty day moving average is $19.91.
Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million for the quarter. The firm's revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) earnings per share.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on CHYM shares. The Goldman Sachs Group raised Chime Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $26.00 to $27.00 in a research note on Monday, December 1st. JPMorgan Chase & Co. reduced their price target on shares of Chime Financial from $40.00 to $34.00 and set an "overweight" rating on the stock in a research report on Thursday, November 6th. William Blair restated an "outperform" rating on shares of Chime Financial in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Chime Financial in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $40.00 price target on shares of Chime Financial in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chime Financial has a consensus rating of "Moderate Buy" and an average price target of $32.25.
View Our Latest Report on CHYM
Institutional Investors Weigh In On Chime Financial
Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC acquired a new stake in Chime Financial in the second quarter valued at $9,519,000. Norges Bank bought a new position in Chime Financial during the second quarter worth about $24,157,000. Seven Grand Managers LLC acquired a new position in Chime Financial during the second quarter worth approximately $3,451,000. Franklin Resources Inc. acquired a new stake in shares of Chime Financial in the second quarter valued at approximately $24,157,000. Finally, Greenhouse Funds LLLP bought a new position in shares of Chime Financial during the 2nd quarter worth approximately $26,153,000.
About Chime Financial
(
Get Free Report)
Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company's model is designed to eliminate common fees and simplify access to basic financial services.
Chime does not charge overdraft fees, monthly service fees, or require minimum balances.
Further Reading
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