Sequoia Financial Advisors LLC bought a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,382 shares of the company’s stock, valued at approximately $1,067,000.
A number of other large investors have also recently made changes to their positions in CHYM. Ashton Thomas Private Wealth LLC bought a new position in shares of Chime Financial in the fourth quarter valued at $129,091,000. Orland Properties Ltd bought a new position in shares of Chime Financial in the second quarter valued at $159,093,000. Scge Management L.P. bought a new position in shares of Chime Financial in the second quarter valued at $152,563,000. Capital Research Global Investors lifted its stake in shares of Chime Financial by 90.0% in the third quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock valued at $138,730,000 after buying an additional 3,258,179 shares in the last quarter. Finally, Davis Selected Advisers bought a new position in shares of Chime Financial in the third quarter valued at $48,391,000.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Wells Fargo & Company raised their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. UBS Group raised their price objective on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Finally, Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned 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.com, Chime Financial has a consensus rating of “Moderate Buy” and a consensus target price of $31.65.
Chime Financial Trading Down 3.9%
Shares of CHYM opened at $17.39 on Thursday. The company has a market capitalization of $6.68 billion and a price-to-earnings ratio of -2.34. The stock has a 50 day moving average of $20.64 and a 200 day moving average of $22.08. Chime Financial, Inc. has a 12 month low of $16.17 and a 12 month high of $44.94.
Chime Financial (NASDAQ:CHYM – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The company 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 firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities research analysts predict that Chime Financial, Inc. will post 0.25 earnings per share for the current year.
Chime Financial 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.
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