Matthew Newcomb Sells 10,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) CFO Matthew Newcomb sold 10,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the completion of the sale, the chief financial officer directly owned 2,240,798 shares of the company’s stock, valued at approximately $62,764,751.98. The trade was a 0.44% 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

CHYM stock opened at $25.69 on Thursday. Chime Financial, Inc. has a 52 week low of $16.17 and a 52 week high of $44.94. The company has a market capitalization of $9.62 billion and a PE ratio of -3.45. The company’s 50-day simple moving average is $23.61 and its 200 day simple moving average is $25.08.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share (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. During the same period in the prior year, the company earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis.

Analyst Ratings Changes

A number of equities analysts have commented on CHYM shares. Arete Research upgraded Chime Financial to a “strong-buy” rating in a research note on Tuesday, September 30th. Jefferies Financial Group initiated coverage on Chime Financial in a report on Monday, November 3rd. They set a “hold” rating and a $17.00 target price on the stock. The Goldman Sachs Group boosted their price target on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. William Blair reaffirmed an “outperform” rating on shares of Chime Financial in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Two equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and an average target price of $32.44.

Institutional Trading of Chime Financial

Several institutional investors and hedge funds have recently modified their holdings of CHYM. EverSource Wealth Advisors LLC bought a new position in Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $34,000. Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $40,000. Osaic Holdings Inc. bought a new stake in shares of Chime Financial during the 2nd quarter valued at approximately $45,000. Finally, Farther Finance Advisors LLC acquired a new position in Chime Financial during the 3rd quarter worth approximately $50,000.

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.