Adam Frankel Sells 500 Shares of Chime Financial (NASDAQ:CHYM) Stock

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

Chime Financial Stock Performance

Shares of CHYM opened at $25.69 on Thursday. The business’s 50-day moving average is $23.61 and its two-hundred day moving average is $25.08. The company has a market capitalization of $9.62 billion and a P/E ratio of -3.45. Chime Financial, Inc. has a fifty-two week low of $16.17 and a fifty-two week high of $44.94.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data 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 company had revenue of $543.52 million during the quarter. During the same period in the previous year, the business posted ($0.34) earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Williams Trading set a $17.00 price target on shares of Chime Financial in a research report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Chime Financial in a research report on Wednesday, October 8th. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 target price on shares of Chime Financial in a research note on Thursday, October 30th. Finally, William Blair restated an “outperform” rating on shares of Chime Financial in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.44.

Institutional Trading of Chime Financial

Institutional investors have recently modified their holdings of the stock. Galileo PTC Ltd acquired a new position in shares of Chime Financial during the 2nd quarter worth about $1,803,793,000. ICONIQ Capital LLC acquired a new stake in Chime Financial in the 2nd quarter worth about $518,844,000. Dragoneer Investment Group LLC purchased a new stake in Chime Financial during the 2nd quarter worth approximately $295,022,000. Capital Research Global Investors raised its holdings in shares of Chime Financial by 90.0% during the third quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock valued at $138,730,000 after acquiring an additional 3,258,179 shares during the last quarter. Finally, Orland Properties Ltd purchased a new position in shares of Chime Financial in the second quarter valued at approximately $159,093,000.

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.