Brighton Jones LLC Makes New $1.09 Million Investment in Chime Financial, Inc. $CHYM

Brighton Jones LLC acquired a new position in Chime Financial, Inc. (NASDAQ:CHYM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,841 shares of the company’s stock, valued at approximately $1,088,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. AMS Capital Ltda acquired a new stake in Chime Financial in the 1st quarter worth approximately $3,439,000. Arrowstreet Capital Limited Partnership increased its stake in 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 valued at $51,630,000 after purchasing an additional 2,658,816 shares in the last quarter. Arizona State Retirement System acquired a new position in Chime Financial during the 2nd quarter valued at approximately $692,000. Penn Mutual Asset Management purchased a new position in shares of Chime Financial in the third quarter worth $6,711,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Chime Financial in the second quarter worth $1,517,000.

Insider Activity at Chime Financial

In related news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the sale, the insider directly owned 405,663 shares of the company’s stock, valued at approximately $13,248,953.58. This trade represents a 91.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shawn Carolan sold 302,306 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $33.21, for a total transaction of $10,039,582.26. Following the completion of the transaction, the director owned 1,800 shares in the company, valued at approximately $59,778. This represents a 99.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,921,447 shares of company stock valued at $523,840,761 over the last quarter. 12.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CHYM has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Chime Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Canaccord Genuity Group upped their target price on Chime Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. The Goldman Sachs Group upped their target price on Chime Financial from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Monness Crespi & Hardt started coverage on shares of Chime Financial in a report on Monday, October 26th. They issued a “neutral” rating on the stock. Finally, Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $39.47.

Chime Financial Stock Up 1.7%

Shares of NASDAQ CHYM opened at $33.08 on Thursday. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 174.11 and a beta of 0.74. The company’s 50-day simple moving average is $29.94 and its 200-day simple moving average is $23.99. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $35.55.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $718.00 million during the quarter. Chime Financial had a net margin of 3.05% and a return on equity of 6.72%. The firm’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) EPS. Equities research analysts anticipate that Chime Financial, Inc. will post 0.47 EPS for the current fiscal year.

About Chime Financial

Chime Financial operates a digital financial services platform for consumers in the United States. Through its mobile app, the company offers spending and savings accounts, debit cards and tools for managing money. Its products also include credit-building services and features designed to help customers access direct deposits and avoid certain common banking fees. Founded in 2012 by Chris Britt and Ryan King, Chime is a financial technology company, not a bank. Banking services are provided through partner banks, including The Bancorp Bank, N.A., and Stride Bank, N.A. Chris Britt has served as the company’s chief executive officer.