Parallel Advisors LLC Has $2.53 Million Stock Position in Chime Financial, Inc. $CHYM

Parallel Advisors LLC reduced its position in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 21.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 134,980 shares of the company’s stock after selling 37,500 shares during the quarter. Parallel Advisors LLC’s holdings in Chime Financial were worth $2,528,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CHYM. Fifth Third Bancorp bought a new position in shares of Chime Financial in the 1st quarter valued at about $653,000. Brown University raised its stake in shares of Chime Financial by 99.0% during the first quarter. Brown University now owns 204,625 shares of the company’s stock worth $3,833,000 after buying an additional 101,820 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Chime Financial during the first quarter worth approximately $3,049,000. Pictet Asset Management Holding SA lifted its holdings in Chime Financial by 58.4% in the first quarter. Pictet Asset Management Holding SA now owns 397,240 shares of the company’s stock valued at $7,440,000 after buying an additional 146,532 shares during the period. Finally, Cannon Global Investment Management LLC acquired a new position in Chime Financial in the first quarter valued at approximately $581,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CHYM. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 target price on shares of Chime Financial in a report on Monday, May 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. BMO Capital Markets initiated coverage on Chime Financial in a research report on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. Finally, Wells Fargo & Company lifted their price objective on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Five analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $29.31.

Insider Buying and Selling at Chime Financial

In other news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction 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 transaction, the general counsel directly owned 303,795 shares of the company’s stock, valued at $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.30% of the stock is currently owned by corporate insiders.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $22.33 on Wednesday. The firm’s 50 day simple moving average is $18.91 and its 200 day simple moving average is $21.05. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $38.67. The company has a market capitalization of $8.51 billion and a price-to-earnings ratio of -3.01.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The firm had revenue of $647.39 million during the quarter. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities research analysts expect that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

About Chime Financial

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.