Chime Financial (NASDAQ:CHYM) General Counsel Adam Frankel Sells 500 Shares

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 500 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.00, for a total value of $14,000.00. Following the completion of the sale, the general counsel owned 218,849 shares of the company’s stock, valued at approximately $6,127,772. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Chime Financial Stock Down 4.3%

NASDAQ CHYM opened at $26.72 on Wednesday. Chime Financial, Inc. has a 52 week low of $16.17 and a 52 week high of $44.94. The business has a 50 day moving average price of $23.48 and a 200-day moving average price of $25.08. The company has a market cap of $10.01 billion and a price-to-earnings ratio of -3.59.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHYM. 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 report on Wednesday, October 1st. Piper Sandler lowered their price objective on Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Jefferies Financial Group assumed coverage on Chime Financial in a report on Monday, November 3rd. They issued a “hold” rating and a $17.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.44.

Hedge Funds Weigh In On Chime Financial

Several institutional investors have recently modified their holdings of the business. Galileo PTC Ltd bought a new stake in Chime Financial during the second quarter worth $1,803,793,000. ICONIQ Capital LLC bought a new position in Chime Financial in the 2nd quarter valued at $518,844,000. Dragoneer Investment Group LLC purchased a new stake in shares of Chime Financial during the 2nd quarter valued at $295,022,000. Orland Properties Ltd bought a new stake in shares of Chime Financial during the 2nd quarter worth $159,093,000. Finally, Scge Management L.P. purchased a new position in shares of Chime Financial in the 2nd quarter worth about $152,563,000.

Chime Financial Company Profile

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.