Key Points
- Chime Financial General Counsel Adam Frankel sold 3,000 shares on June 15 at an average price of $17.50, totaling $52,500. After the sale, he still held 303,795 shares valued at about $5.32 million.
- Chime recently reported stronger-than-expected quarterly results, posting $0.13 EPS versus the $0.03 consensus estimate, with revenue of $647.39 million up 24.8% year over year.
- Wall Street remains broadly positive on CHYM, with analysts assigning a consensus “Moderate Buy” rating and an average price target of $31.65, despite the stock trading well below its 52-week high.
Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) General Counsel Adam Frankel sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the sale, the general counsel owned 303,795 shares of the company's stock, valued at approximately $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Chime Financial Stock Performance
CHYM opened at $17.05 on Wednesday. The business has a 50 day moving average price of $19.48 and a 200 day moving average price of $21.87. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $38.67. The firm has a market cap of $6.50 billion and a P/E ratio of -2.29.
Chime Financial (NASDAQ:CHYM - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The firm had revenue of $647.39 million during the quarter. The business's quarterly revenue was up 24.8% on a year-over-year basis. As a group, analysts anticipate that Chime Financial, Inc. will post 0.3 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CHYM. KeyCorp began coverage on Chime Financial in a research report on Wednesday, March 4th. They issued an "overweight" rating and a $30.00 price target on the stock. Compass Point raised Chime Financial from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $33.00 to $27.00 in a research report on Monday, April 13th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $40.00 price target on shares of Chime Financial in a research report on Monday, May 11th. UBS Group lifted their price target on Chime Financial from $24.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, February 26th. Finally, BMO Capital Markets began coverage on Chime Financial in a research report on Wednesday, April 22nd. They issued an "outperform" rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chime Financial currently has a consensus rating of "Moderate Buy" and an average target price of $31.65.
Read Our Latest Report on CHYM
Institutional Trading of Chime Financial
Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake 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 second quarter valued at approximately $34,000. PNC Financial Services Group Inc. bought a new stake in shares of Chime Financial during the fourth quarter valued at approximately $25,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial during the second quarter valued at approximately $40,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Chime Financial during the second quarter valued at approximately $45,000.
Chime Financial Company Profile
(
Get Free Report)
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.
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