Ieq Capital LLC bought a new position in Chime Financial, Inc. (NASDAQ:CHYM – Free Report) in the fourth quarter, Holdings Channel reports. The firm bought 2,312,846 shares of the company’s stock, valued at approximately $58,214,000.
A number of other institutional investors also recently bought and sold shares of CHYM. PNC Financial Services Group Inc. acquired a new stake in Chime Financial during the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd lifted its stake in Chime Financial by 686.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after acquiring an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $40,000.
Chime Financial Price Performance
CHYM opened at $16.70 on Friday. The firm has a fifty day moving average price of $19.55 and a 200 day moving average price of $21.89. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $38.67. The stock has a market cap of $6.36 billion and a P/E ratio of -2.25.
Insider Activity
In related news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the completion of the transaction, the general counsel directly owned 306,795 shares in the company, valued at $5,522,310. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.30% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have commented on CHYM. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. Wells Fargo & Company lifted 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. Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Finally, UBS Group lifted 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. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chime Financial presently has an average rating of “Moderate Buy” and an average price target of $31.65.
Check Out Our Latest Analysis on CHYM
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.
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