Chime Financial (NASDAQ:CHYM) General Counsel Sells $3,397,686.62 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 102,002 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $33.31, for a total value of $3,397,686.62. Following the completion of the sale, the general counsel directly owned 364,828 shares in the company, valued at $12,152,420.68. This represents a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chime Financial Stock Performance

Shares of Chime Financial stock opened at $30.33 on Friday. The business has a 50-day simple moving average of $28.82 and a 200-day simple moving average of $22.87. Chime Financial, Inc. has a one year low of $15.88 and a one year high of $35.55. The company has a market cap of $11.48 billion, a PE ratio of -433.22 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $669.77 million for the quarter. During the same period last year, the business earned ($7.29) EPS. The firm’s revenue was up 26.8% compared to the same quarter last year. On average, sell-side analysts predict that Chime Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chime Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spyglass Capital Management LLC lifted its position in Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after acquiring an additional 2,109,057 shares during the last quarter. Ieq Capital LLC acquired a new position in Chime Financial in the fourth quarter valued at $58,214,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Chime Financial by 2,720.3% during the first 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 during the last quarter. Owls Nest Partners IA LLC acquired a new stake in shares of Chime Financial during the fourth quarter worth about $47,065,000. Finally, Light Street Capital Management LLC increased 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 in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHYM. Canaccord Genuity Group boosted their target price on shares of Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. KeyCorp lifted their price target on Chime Financial from $33.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, September 9th. Weiss Ratings raised Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd. UBS Group increased their price objective on Chime Financial from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Finally, Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $36.40.

Chime Financial Company Profile

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.