Chime Financial (NASDAQ:CHYM) Stock Price Down 3.9% – Here’s Why

Chime Financial, Inc. (NASDAQ:CHYM) was down 3.9% during trading on Wednesday . The company traded as low as $25.30 and last traded at $25.31. Approximately 1,327,776 shares were traded during trading, a decline of 61% from the average daily volume of 3,393,014 shares. The stock had previously closed at $26.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CHYM shares. Williams Trading set a $17.00 target price on shares of Chime Financial in a report on Monday, November 3rd. UBS Group decreased their price target on shares of Chime Financial from $37.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. B. Riley initiated coverage on shares of Chime Financial in a research note on Thursday, December 11th. They set a “buy” rating and a $35.00 price objective for the company. Arete Research raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods reduced their target price on Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Two equities 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 company. According to data from MarketBeat, Chime Financial currently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Chime Financial Stock Down 4.4%

The firm’s 50 day simple moving average is $21.98 and its 200-day simple moving average is $25.36. The company has a market capitalization of $9.43 billion and a PE ratio of -3.38.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) earnings per share.

Insider Transactions at Chime Financial

In other news, Director James Feuille sold 176,168 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $27.12, for a total value of $4,777,676.16. Following the completion of the sale, the director owned 7,044,936 shares of the company’s stock, valued at $191,058,664.32. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Adam B. Frankel sold 6,760 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $23.84, for a total value of $161,158.40. Following the completion of the sale, the general counsel owned 244,416 shares of the company’s stock, valued at approximately $5,826,877.44. This trade represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 191,657 shares of company stock worth $5,157,258.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CHYM. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial during the 2nd quarter valued at $33,000. Scopus Asset Management L.P. acquired a new position in Chime Financial in the 2nd quarter worth $34,000. Daiwa Securities Group Inc. purchased a new position in Chime Financial in the 2nd quarter valued at about $40,000. Osaic Holdings Inc. acquired a new stake in shares of Chime Financial during the second quarter valued at about $45,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Chime Financial during the third quarter valued at about $50,000.

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.