Engineers Gate Manager LP Purchases New Shares in Chime Financial, Inc. $CHYM

Engineers Gate Manager LP purchased a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 88,360 shares of the company’s stock, valued at approximately $1,810,000.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System purchased a new stake in Chime Financial in the 2nd quarter valued at about $692,000. Light Street Capital Management LLC boosted its stake in shares of Chime Financial by 5.8% in the 2nd quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock worth $45,037,000 after buying an additional 121,474 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Chime Financial in the 2nd quarter worth approximately $7,828,000. Comprehensive Financial Management LLC grew its holdings in shares of Chime Financial by 2.4% in the second quarter. Comprehensive Financial Management LLC now owns 565,976 shares of the company’s stock valued at $11,591,000 after acquiring an additional 13,225 shares in the last quarter. Finally, Spyglass Capital Management LLC grew its holdings in shares of Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after acquiring an additional 2,109,057 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group increased their price target on Chime Financial from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Morgan Stanley boosted their price objective on Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Canaccord Genuity Group upped their price objective on Chime Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. The Goldman Sachs Group raised their target price on Chime Financial from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Zacks Research upgraded Chime Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.40.

Insider Buying and Selling at Chime Financial

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total value 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 $13,248,953.58. This trade represents a 91.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ryan King sold 375,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $30.27, for a total value of $11,351,250.00. 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 15,157,062 shares of company stock valued at $493,525,464. 12.30% of the stock is owned by corporate insiders.

Chime Financial Stock Down 1.1%

Chime Financial stock opened at $33.61 on Wednesday. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $35.55. The firm has a 50 day moving average price of $28.23 and a 200-day moving average price of $22.71. The company has a market capitalization of $12.72 billion, a P/E ratio of -480.07 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the firm posted ($7.29) EPS. Equities analysts expect that Chime Financial, Inc. will post 0.43 EPS for the current fiscal year.

Key Stories Impacting Chime Financial

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Goldman Sachs raised its price target: Goldman lifted its target for Chime from $33 to $37 and assigned a “Buy” rating, implying approximately 10% upside from the referenced $33.61 level. The upgrade suggests greater confidence in the fintech company’s growth outlook.
• Positive Sentiment: Consensus target moved higher: The average analyst price target reportedly increased 10.98% to $38.71, reinforcing the broadly positive view of Chime’s shares. Consensus price target article
• Positive Sentiment: Additional bullish calls support the stock: B. Riley raised its price target from $37 to $44 while maintaining a “Buy” rating, and Rothschild & Co Redburn upgraded Chime from “Hold” to “Buy” with a $46 target. These targets imply substantial potential upside from recent trading levels.
• Neutral Sentiment: Momentum is strong but valuation risk remains: Chime is trading well above its 50-day and 200-day moving averages and close to its annual high. Elevated volume indicates strong investor interest, but the sharp rally may also leave the shares vulnerable to volatility or profit-taking.
• Negative Sentiment: Multiple directors sold large positions: Director Shawn T. Carolan sold a combined 579,313 shares for approximately $19.2 million, reducing one reported holding by 99.41%. Director James Feuille sold 351,890 shares worth about $11.6 million, while Director Cynthia Marshall sold 20,000 shares for approximately $661,800. The transactions could weigh on investor sentiment, although insider sales may also reflect diversification or planned transactions. Chime insider trading report

Chime Financial Profile

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.