Chime Financial (NASDAQ:CHYM) CFO Sells $280,100.00 in Stock

by · The Cerbat Gem

Chime Financial, Inc. (NASDAQ:CHYM – Get Free Report) CFO Matthew Newcomb sold 10,000 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the transaction, the chief financial officer directly owned 2,240,798 shares of the company’s stock, valued at $62,764,751.98. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Chime Financial Trading Down 4.3%

Shares of NASDAQ:CHYM traded down $1.21 during mid-day trading on Tuesday, reaching $26.72. The company had a trading volume of 4,775,826 shares, compared to its average volume of 3,484,727. Chime Financial, Inc. has a one year low of $16.17 and a one year high of $44.94. The company’s 50-day moving average price is $23.30 and its 200-day moving average price is $25.12. The firm has a market cap of $10.01 billion and a price-to-earnings ratio of -3.59.

Chime Financial (NASDAQ:CHYM – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million for the quarter. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the business posted ($0.34) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. PFG Investments LLC purchased a new position in shares of Chime Financial in the 2nd quarter worth about $350,000. Hennessy Advisors Inc. bought a new stake in Chime Financial in the 2nd quarter worth approximately $207,000. MADDEN SECURITIES Corp bought a new stake in Chime Financial in the 2nd quarter worth approximately $582,000. Board of Trustees of The Leland Stanford Junior University purchased a new stake in Chime Financial in the second quarter worth approximately $1,453,000. Finally, Jennison Associates LLC bought a new position in Chime Financial during the second quarter valued at approximately $3,766,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CHYM shares. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research note on Thursday, October 30th. Williams Trading set a $17.00 target price on shares of Chime Financial in a research note on Monday, November 3rd. Keefe, Bruyette & Woods dropped their price target on shares of Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Arete Research raised shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.44.

Get Our Latest Analysis on Chime Financial

Chime Financial Company Profile

(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.

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