Handelsbanken Fonder AB purchased a new stake in Chime Financial, Inc. (NASDAQ:CHYM – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 66,300 shares of the company’s stock, valued at approximately $1,358,000.
Other large investors also recently made changes to their positions in the company. Aspect Management LLC acquired a new stake in Chime Financial during the fourth quarter valued at approximately $300,361,000. 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 acquired a new stake in shares of Chime Financial during the 2nd quarter valued at $159,093,000. Scge Management L.P. acquired a new stake in shares of Chime Financial during the 2nd quarter valued at $152,563,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Chime Financial by 2,720.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after acquiring an additional 2,658,816 shares in the last quarter.
Analyst Upgrades and Downgrades
CHYM has been the topic of a number of recent analyst reports. Weiss Ratings raised Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. UBS Group increased their price target on Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods upped their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wolfe Research reiterated an “outperform” rating and issued a $32.00 target price on shares of Chime Financial in a report on Thursday, August 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.39.
Key Chime Financial News
Here are the key news stories impacting Chime Financial this week:
- Positive Sentiment: Chime’s earnings call highlighted continued profitable growth, reinforcing the company’s recent quarterly performance. Chime reported quarterly revenue of $669.8 million, up 26.8% year over year, and earnings of $0.07 per share versus analysts’ expectation of a $0.01 loss. Chime Financial Earnings Call Highlights Profitable Growth
- Positive Sentiment: Morgan Stanley raised its price target for CHYM from $33 to $39 and maintained an “overweight” rating. The new target signals further potential upside and adds to a generally bullish analyst consensus following Chime’s earnings beat. Morgan Stanley Raises Chime Financial Price Target
- Neutral Sentiment: Analyst coverage remains broadly favorable, with multiple firms carrying Buy or Outperform ratings and recently increased targets. However, the stock’s strong rally has already pushed it above several prior price objectives, potentially limiting near-term upside unless estimates continue to rise.
- Negative Sentiment: Major shareholder Global Advisors Ltd Dst reported multiple sales totaling approximately 4.1 million shares between August 6 and August 14, including 524,661 shares sold for about $16.9 million and 713,289 shares sold for about $22.9 million. The transactions sharply reduced the shareholder’s position and could create selling pressure or raise concerns about near-term valuation. Chime Financial Major Shareholder Stock Sales
Chime Financial Stock Performance
CHYM stock opened at $31.91 on Wednesday. The firm has a 50 day simple moving average of $22.44 and a 200 day simple moving average of $21.05. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $33.41. The stock has a market cap of $12.08 billion, a P/E ratio of -455.79 and a beta of 0.30.
Chime Financial (NASDAQ:CHYM – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($7.29) EPS. Sell-side analysts predict that Chime Financial, Inc. will post 0.39 EPS for the current year.
Insiders Place Their Bets
In related news, CAO Amine Asmerom sold 10,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief accounting officer directly owned 216,946 shares in the company, valued at approximately $6,508,380. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 1,796,196 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $32.62, for a total value of $58,591,913.52. Following the sale, the insider directly owned 471,952 shares of the company’s stock, valued at $15,395,074.24. This trade represents a 79.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,891,471 shares of company stock valued at $156,168,157 in the last three months. Company insiders own 12.30% of the company’s stock.
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.
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