Key Points
- Chime insider Ryan King sold 50,000 shares at an average price of $29.40, generating approximately $1.47 million. The transaction was made 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, exceeding analysts’ estimate of a $0.01-per-share loss.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $36.38, compared with the stock’s opening price of $29.90.
Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) insider Ryan King sold 50,000 shares of Chime Financial stock in a transaction on Friday, October 9th. The stock was sold at an average price of $29.40, for a total transaction of $1,470,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Chime Financial Stock Performance
Shares of CHYM opened at $29.90 on Wednesday. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $35.55. The business has a 50-day moving average of $30.78 and a 200-day moving average of $23.73.
Chime Financial (NASDAQ:CHYM - Get Free Report) last released its earnings results 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 for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. Chime Financial's quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($7.29) EPS. Sell-side analysts predict that Chime Financial, Inc. will post 0.45 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Loop Capital assumed coverage on Chime Financial in a research note on Wednesday, September 9th. They issued a "buy" rating and a $45.00 price objective for the company. UBS Group upped their target price on Chime Financial from $28.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 9th. Wells Fargo & Company increased their target price on Chime Financial from $33.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, August 25th. Wolfe Research increased their target price on Chime Financial from $32.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Finally, BMO Capital Markets lifted their price target 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. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.38.
View Our Latest Research Report on CHYM
Institutional Investors Weigh In On Chime Financial
A number of institutional investors and hedge funds have recently made changes to their positions in CHYM. AMS Capital Ltda bought a new position in Chime Financial in the 1st quarter valued at about $3,439,000. Arrowstreet Capital Limited Partnership increased 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 worth $51,630,000 after purchasing an additional 2,658,816 shares in the last quarter. Arizona State Retirement System bought a new stake in Chime Financial during the 2nd quarter worth approximately $692,000. Hsbc Holdings PLC bought a new stake in Chime Financial during the 4th quarter worth approximately $1,274,000. Finally, Brown University raised its stake in shares of Chime Financial by 99.0% in the first quarter. Brown University now owns 204,625 shares of the company's stock worth $3,833,000 after purchasing an additional 101,820 shares during the last quarter.
About Chime Financial
(
Get Free Report)
Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.
The company's product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.
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