Chime Financial, Inc. $CHYM Stock Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its position in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 73.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,879 shares of the company’s stock after selling 81,500 shares during the period. Parallel Advisors LLC’s holdings in Chime Financial were worth $769,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CHYM. NFSG Corp purchased a new stake in Chime Financial in the 3rd quarter valued at approximately $27,000. Reyes Financial Architecture Inc. acquired a new position in Chime Financial during the 3rd quarter worth approximately $39,000. Nisa Investment Advisors LLC increased its position in Chime Financial by 529.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,889 shares of the company’s stock worth $50,000 after purchasing an additional 1,589 shares during the period. GAMMA Investing LLC raised its stake in shares of Chime Financial by 1,316.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock worth $58,000 after buying an additional 2,014 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new position in shares of Chime Financial during the 3rd quarter worth approximately $70,000.

Chime Financial Trading Up 1.7%

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

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Chime Financial had a net margin of 3.05% and a return on equity of 6.72%. The company had revenue of $718.00 million for the quarter. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities research analysts expect that Chime Financial, Inc. will post 0.47 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on CHYM shares. Barclays raised their price target on Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, September 9th. Loop Capital assumed coverage on Chime Financial in a report on Wednesday, September 9th. They set a “buy” rating and a $45.00 price objective on the stock. Zacks Research upgraded Chime Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Wolfe Research increased their price objective on Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Finally, Freedom Capital raised Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Chime Financial currently has an average rating of “Buy” and a consensus price target of $39.47.

Insider Buying and Selling at Chime Financial

In related news, Director James Feuille sold 256,837 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $32.33, for a total value of $8,303,540.21. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan King sold 63,382 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $31.32, for a total value of $1,985,124.24. Following the completion of the sale, the insider owned 37,812 shares in the company, valued at approximately $1,184,271.84. This represents a 62.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 15,921,447 shares of company stock worth $523,840,761. Corporate insiders own 12.30% of the company’s stock.

Chime Financial Profile

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.