Adam Frankel Sells 3,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $18.00, for a total transaction of $54,000.00. Following the completion of the transaction, the general counsel directly owned 306,795 shares of the company’s stock, valued at approximately $5,522,310. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Chime Financial Stock Down 3.7%

NASDAQ:CHYM traded down $0.63 during midday trading on Wednesday, hitting $16.44. The company had a trading volume of 3,787,672 shares, compared to its average volume of 4,269,763. The company has a market capitalization of $6.26 billion and a PE ratio of -2.21. Chime Financial, Inc. has a 52-week low of $16.17 and a 52-week high of $44.94. The stock’s fifty day moving average price is $19.64 and its 200-day moving average price is $21.95.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $647.39 million for the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.Chime Financial’s revenue was up 24.8% compared to the same quarter last year. As a group, research analysts forecast that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Texas Capital raised Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research note on Monday, May 11th. UBS Group lifted their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.65.

Institutional Investors Weigh In On Chime Financial

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in Chime Financial during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the 2nd quarter valued at about $34,000. Caitong International Asset Management Co. Ltd lifted its position in Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after purchasing an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Chime Financial in the 2nd quarter worth $40,000.

About Chime Financial

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.