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 shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the completion of the sale, the general counsel owned 306,795 shares of the company’s stock, valued at $5,522,310. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Chime Financial Stock Performance

Shares of NASDAQ CHYM opened at $17.25 on Friday. The firm has a market capitalization of $6.57 billion and a price-to-earnings ratio of -2.32. The stock has a 50 day moving average price of $19.59 and a 200 day moving average price of $21.93. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $44.94.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHYM. KeyCorp began coverage on Chime Financial in a report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $33.00 to $27.00 in a report on Monday, April 13th. Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial has an average rating of “Moderate Buy” and a consensus price target of $31.65.

Hedge Funds Weigh In On Chime Financial

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the second quarter worth $33,000. Scopus Asset Management L.P. acquired a new position in shares of Chime Financial during the second quarter worth $34,000. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial during the fourth quarter worth $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial during the second quarter worth $40,000. Finally, Osaic Holdings Inc. acquired a new position in shares of Chime Financial during the second quarter worth $45,000.

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.