162,780 Shares in Chime Financial, Inc. $CHYM Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 162,780 shares of the company’s stock, valued at approximately $3,049,000.

A number of other large investors also recently bought and sold shares of the business. Pictet Asset Management Holding SA increased its stake in shares of Chime Financial by 58.4% during the first quarter. Pictet Asset Management Holding SA now owns 397,240 shares of the company’s stock valued at $7,440,000 after purchasing an additional 146,532 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in shares of Chime Financial in the 1st quarter worth approximately $581,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Chime Financial in the 1st quarter worth approximately $294,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Chime Financial in the 1st quarter worth approximately $44,000. Finally, SG Americas Securities LLC increased its position in Chime Financial by 6.5% during the 1st quarter. SG Americas Securities LLC now owns 32,954 shares of the company’s stock valued at $617,000 after buying an additional 2,002 shares in the last quarter.

Insider Activity

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the sale, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a report on Monday, May 11th. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Wells Fargo & Company upped their target price on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chime Financial currently has an average rating of “Moderate Buy” and an average target price of $29.88.

Chime Financial Price Performance

Chime Financial stock traded down $0.38 during midday trading on Tuesday, reaching $21.07. 1,212,203 shares of the company traded hands, compared to its average volume of 4,547,583. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $38.67. The firm has a market capitalization of $8.03 billion and a price-to-earnings ratio of -2.83. The business has a 50 day moving average of $18.68 and a two-hundred day moving average of $21.40.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $647.39 million for the quarter. The business’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, equities analysts forecast that Chime Financial, Inc. will post 0.3 EPS 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.