Clearbridge Investments LLC Sells 362,691 Shares of Chime Financial, Inc. $CHYM

Clearbridge Investments LLC lessened its stake in Chime Financial, Inc. (NASDAQ:CHYMFree Report) by 52.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 332,047 shares of the company’s stock after selling 362,691 shares during the quarter. Clearbridge Investments LLC’s holdings in Chime Financial were worth $8,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHYM. Ashton Thomas Private Wealth LLC bought a new stake in Chime Financial in the fourth quarter valued at about $129,091,000. Orland Properties Ltd bought a new position in Chime Financial during the 2nd quarter worth approximately $159,093,000. Scge Management L.P. bought a new position in Chime Financial during the 2nd quarter worth approximately $152,563,000. Capital Research Global Investors boosted its stake in Chime Financial by 90.0% during the 3rd quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock worth $138,730,000 after acquiring an additional 3,258,179 shares during the last quarter. Finally, Davis Selected Advisers bought a new position in Chime Financial during the 3rd quarter worth approximately $48,391,000.

Chime Financial Price Performance

NASDAQ:CHYM opened at $16.44 on Thursday. Chime Financial, Inc. has a fifty-two week low of $16.17 and a fifty-two week high of $44.94. The stock has a market capitalization of $6.26 billion and a PE ratio of -2.21. The business’s 50-day simple moving average is $19.62 and its 200-day simple moving average is $21.94.

Chime Financial (NASDAQ:CHYMGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The business had revenue of $647.39 million for the quarter. The company’s revenue was up 24.8% on a year-over-year basis. On average, research analysts expect that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total transaction 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. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CHYM has been the topic of several recent analyst reports. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. BMO Capital Markets began coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, KeyCorp began coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Check Out Our Latest Stock Report on CHYM

Chime Financial Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Chime Financial (NASDAQ:CHYM)

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