Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) Director Cynthia Marshall sold 20,000 shares of Chime Financial stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $33.09, for a total value of $661,800.00. Following the completion of the transaction, the director owned 28,548 shares of the company's stock, valued at approximately $944,653.32. This represents a 41.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Chime Financial Price Performance
Shares of NASDAQ CHYM opened at $33.97 on Tuesday. The business's 50 day moving average is $27.98 and its two-hundred day moving average is $22.62. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $35.55. The stock has a market capitalization of $12.86 billion, a P/E ratio of -485.22 and a beta of 0.60.
Chime Financial (NASDAQ:CHYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. The business had revenue of $669.77 million during the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.Chime Financial's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the business earned ($7.29) earnings per share. As a group, equities research analysts anticipate that Chime Financial, Inc. will post 0.44 earnings per share for the current fiscal year.
Analyst Ratings Changes
CHYM has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Chime Financial from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 9th. BMO Capital Markets boosted their price objective on shares of Chime Financial from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. KeyCorp increased their target price on shares of Chime Financial from $33.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, September 9th. Wall Street Zen upgraded shares of Chime Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Piper Sandler lifted their price target on shares of Chime Financial from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 9th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $36.20.
View Our Latest Report on CHYM
Institutional Investors Weigh In On Chime Financial
A number of institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP bought a new position in Chime Financial in the 2nd quarter valued at $1,810,000. Arizona State Retirement System purchased a new stake in Chime Financial in the second quarter worth $692,000. Light Street Capital Management LLC lifted its position in shares of Chime Financial by 5.8% during the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company's stock worth $45,037,000 after purchasing an additional 121,474 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Chime Financial during the second quarter worth $7,828,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Chime Financial during the second quarter valued at $59,367,000.
Key Headlines Impacting Chime Financial
Here are the key news stories impacting Chime Financial this week:
- Positive Sentiment: Analyst upgrades and higher price targets: Rothschild & Co Redburn upgraded Chime from “neutral” to “buy” and assigned a $46 price target. B. Riley Financial also maintained a “buy” rating while raising its target from $37 to $44. The targets imply roughly 29.5% to 35.4% potential upside from the referenced $33.97 share-price level, signaling stronger confidence in Chime’s growth prospects.
- Neutral Sentiment: Shares are trading near their 12-month high: Chime’s stock has risen substantially above its 50-day and 200-day moving averages and is near its 12-month high of $35.55. Elevated trading volume suggests strong investor interest, but the move could also increase volatility after the recent rally.
- Negative Sentiment: Directors reported substantial stock sales: Director James Feuille sold 258,398 shares for approximately $8.5 million, reducing one reported holding by 88.25%. He also sold an additional 93,492 shares for about $3.1 million, a 1.33% reduction in another position. Director Cynthia Marshall separately sold 20,000 shares worth approximately $661,800, reducing her position by 41.2%. The sales were disclosed in SEC insider-trading filing and SEC filing for Cynthia Marshall. While insider sales can reflect diversification or scheduled transactions, the size of the disposals represents a potential near-term sentiment headwind.
About Chime Financial
(
Get Free Report)
Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.
The company's products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.
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