Key Points
- CEO Christopher Britt sold 100,000 Chime Financial shares at an average price of $34.03, generating approximately $3.4 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Chime reported quarterly revenue of $669.77 million, up 26.8% year over year, and earnings of $0.07 per share, beating analysts’ expectation of a $0.01 loss.
- Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $32.33, while several institutional investors recently established or expanded positions.
Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) CEO Christopher Britt sold 100,000 shares of the company's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $34.03, for a total transaction of $3,403,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Chime Financial Price Performance
Shares of Chime Financial stock opened at $31.66 on Wednesday. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $34.16. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of -452.22 and a beta of 0.30. The company has a 50-day moving average of $25.60 and a 200 day moving average of $21.77.
Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business had revenue of $669.77 million during the quarter. During the same period in the prior year, the business posted ($7.29) EPS. Chime Financial's revenue for the quarter was up 26.8% on a year-over-year basis. On average, equities analysts anticipate that Chime Financial, Inc. will post 0.41 EPS for the current year.
Institutional Investors Weigh In On Chime Financial
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aspect Management LLC purchased a new position in Chime Financial during the fourth quarter valued at approximately $300,361,000. Orland Properties Ltd bought a new stake in Chime Financial during the second quarter valued at about $159,093,000. Scge Management L.P. bought a new stake in Chime Financial during the second quarter valued at about $152,563,000. California State Teachers Retirement System purchased a new position in shares of Chime Financial in the second quarter valued at about $59,367,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings 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 valued at $51,630,000 after buying an additional 2,658,816 shares in the last quarter.
Analyst Ratings Changes
Several research firms have recently issued reports on CHYM. UBS Group lifted their price target on Chime Financial from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their target price on shares of Chime Financial from $33.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 25th. BMO Capital Markets boosted their target price on shares of Chime Financial from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. B. Riley Financial upped their price objective on Chime Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group raised their target price on Chime Financial from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Chime Financial presently has an average rating of "Moderate Buy" and a consensus price target of $32.33.
View Our Latest Report on Chime Financial
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.
Further Reading
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