Chime Financial, Inc. $CHYM Shares Sold by Coatue Management LLC

Coatue Management LLC trimmed its position in Chime Financial, Inc. (NASDAQ:CHYM) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,716,284 shares of the company’s stock after selling 105,708 shares during the quarter. Coatue Management LLC owned about 2.88% of Chime Financial worth $216,147,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHYM. Geode Capital Management LLC purchased a new position in Chime Financial during the 2nd quarter worth approximately $9,519,000. Norges Bank acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $24,157,000. Federated Hermes Inc. boosted its holdings in shares of Chime Financial by 11.1% in the 3rd quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock valued at $17,421,000 after acquiring an additional 86,593 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Chime Financial by 1,203.2% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 81,450 shares of the company’s stock valued at $1,643,000 after acquiring an additional 75,200 shares during the last quarter. Finally, Seven Grand Managers LLC acquired a new stake in shares of Chime Financial in the second quarter worth $3,451,000.

Insiders Place Their Bets

In other Chime Financial news, General Counsel Adam B. Frankel sold 4,382 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $27.29, for a total value of $119,584.78. Following the sale, the general counsel directly owned 209,500 shares of the company’s stock, valued at approximately $5,717,255. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher R. Britt sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.06, for a total value of $1,403,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 72,111 shares of company stock worth $1,996,109.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. B. Riley Financial started coverage on shares of Chime Financial in a report on Thursday, December 11th. They set a “buy” rating and a $35.00 target price for the company. Rothschild & Co Redburn started coverage on Chime Financial in a research report on Monday, January 26th. They set a “neutral” rating and a $29.00 price target on the stock. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. The Goldman Sachs Group boosted their price objective on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, KeyCorp began coverage on Chime Financial in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.28.

Chime Financial Stock Performance

CHYM opened at $20.61 on Friday. Chime Financial, Inc. has a fifty-two week low of $16.17 and a fifty-two week high of $44.94. The company has a fifty day moving average of $23.56 and a two-hundred day moving average of $22.60. The stock has a market capitalization of $7.92 billion and a price-to-earnings ratio of -2.73.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The business had revenue of $596.36 million during the quarter. During the same quarter last year, the company posted ($0.30) EPS. The company’s revenue was up 25.5% on a year-over-year basis.

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.