Key Points
- CEO Christopher Britt sold 200,000 Chime Financial shares at an average price of $32.04, generating approximately $6.4 million. The transaction was executed 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 analyst expectations by $0.08. Despite the improvement, the company remained slightly unprofitable on a net-margin basis.
- Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $32.74, while several institutional investors recently established or expanded positions in the company.
Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) CEO Christopher Britt sold 200,000 shares of Chime Financial stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $32.04, for a total transaction of $6,408,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Chime Financial Stock Performance
Shares of CHYM opened at $33.65 on Friday. The stock has a market cap of $12.74 billion, a PE ratio of -480.65 and a beta of 0.60. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $34.44. The firm's 50-day simple moving average is $26.22 and its two-hundred day simple moving average is $21.97.
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. Equities research analysts predict that Chime Financial, Inc. will post 0.41 EPS for the current year.
Trending Headlines about Chime Financial
Here are the key news stories impacting Chime Financial this week:
- Positive Sentiment: Scotiabank initiated coverage with a “sector outperform” rating and a $40 price target, implying roughly 19% upside from the referenced trading level. The new bullish coverage adds to a generally favorable analyst outlook. Scotiabank Initiates Chime Financial at Sector Outperform
- Positive Sentiment: CHYM was added to the Zacks Rank #1, or “Strong Buy,” list for September 2, reinforcing momentum-oriented investor interest. New Strong Buy Stocks for September 2nd
- Positive Sentiment: Chime’s latest quarterly results showed revenue growth of 26.8% year over year and earnings of $0.07 per share, beating the consensus estimate by $0.08. The results indicate improving operating performance, although the company remained slightly unprofitable on a net-margin basis.
- Positive Sentiment: Recent filings showed new or expanded positions from several institutional investors, including Aspect Management, Orland Properties, Scge Management, CalSTRS and Arrowstreet Capital. Such buying can support sentiment and liquidity around the stock.
- Neutral Sentiment: Brokerages maintain a consensus “Moderate Buy” rating. However, the previously reported average price target of $32.33 is below the referenced trading level, suggesting some analysts may view the recent rally as having already exceeded fundamental targets.
- Negative Sentiment: CEO Christopher Britt sold a combined 300,000 shares for approximately $9.8 million in transactions dated August 28 and September 1. Both sales were conducted under pre-arranged Rule 10b5-1 plans, which reduces their significance as a discretionary bearish signal but could still weigh on sentiment.
Hedge Funds Weigh In On Chime Financial
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. Allianz Asset Management GmbH purchased a new stake in Chime Financial during the 2nd quarter valued at $7,828,000. California State Teachers Retirement System purchased a new position in shares of Chime Financial in the second quarter worth $59,367,000. Comprehensive Financial Management LLC lifted its holdings in shares of Chime Financial by 2.4% during the second quarter. Comprehensive Financial Management LLC now owns 565,976 shares of the company's stock valued at $11,591,000 after purchasing an additional 13,225 shares in the last quarter. Spyglass Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 2,109,057 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Chime Financial during the second quarter valued at $1,517,000.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on CHYM shares. Wall Street Zen upgraded Chime Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Freedom Capital upgraded Chime Financial to a "strong-buy" rating in a report on Thursday, July 23rd. B. Riley Financial lifted their price target on Chime Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wells Fargo & Company upped their price target on shares of Chime Financial from $33.00 to $39.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chime Financial currently has a consensus rating of "Moderate Buy" and an average target price of $32.74.
Check Out Our Latest Research Report on Chime Financial
About Chime Financial
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
