Davis Selected Advisers Acquires New Position in Chime Financial, Inc. $CHYM

Davis Selected Advisers acquired a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,399,166 shares of the company’s stock, valued at approximately $48,391,000. Davis Selected Advisers owned approximately 0.64% of Chime Financial as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CHYM. Geode Capital Management LLC acquired a new position in shares of Chime Financial in the 2nd quarter worth approximately $9,519,000. Greenland Capital Management LP acquired a new stake in shares of Chime Financial during the 2nd quarter valued at approximately $1,258,000. Octahedron Capital Management L.P. bought a new position in Chime Financial during the second quarter worth $3,451,000. JPMorgan Chase & Co. acquired a new position in Chime Financial in the second quarter worth $693,000. Finally, Franklin Resources Inc. acquired a new position in Chime Financial in the second quarter worth $24,157,000.

Chime Financial Trading Down 4.2%

Shares of NASDAQ CHYM opened at $18.83 on Thursday. The stock has a 50 day simple moving average of $23.10 and a 200-day simple moving average of $22.46. The company has a market cap of $7.23 billion and a PE ratio of -2.49. Chime Financial, Inc. has a 12-month low of $16.17 and a 12-month high of $44.94.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.The company had revenue of $596.36 million during the quarter. During the same period in the previous year, the company posted ($0.30) EPS. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year.

Analyst Ratings Changes

CHYM has been the topic of a number of research reports. The Goldman Sachs Group increased their target price on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. B. Riley Financial began coverage on shares of Chime Financial in a research report on Thursday, December 11th. They set a “buy” rating and a $35.00 price objective for the company. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. Finally, UBS Group raised their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.28.

Insider Buying and Selling at Chime Financial

In other Chime Financial news, CFO Matthew S. Newcomb sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the transaction, the chief financial officer owned 2,240,798 shares of the company’s stock, valued at approximately $62,764,751.98. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Adam B. Frankel sold 4,382 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $27.29, for a total transaction of $119,584.78. Following the sale, the general counsel owned 209,500 shares in the company, valued at $5,717,255. This trade represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 64,882 shares of company stock valued at $1,816,685.

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.