Range Advisory LLC Sells 49,319 Shares of Chime Financial, Inc. $CHYM

Range Advisory LLC trimmed its position in Chime Financial, Inc. (NASDAQ:CHYM) by 14.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 285,190 shares of the company’s stock after selling 49,319 shares during the quarter. Chime Financial accounts for about 0.7% of Range Advisory LLC’s investment portfolio, making the stock its 27th largest holding. Range Advisory LLC’s holdings in Chime Financial were worth $5,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aspect Management LLC purchased a new position in Chime Financial during the 4th quarter valued at approximately $300,361,000. Orland Properties Ltd bought a new stake in Chime Financial in the 2nd quarter worth approximately $159,093,000. Scge Management L.P. purchased a new stake in shares of Chime Financial during the 2nd quarter worth approximately $152,563,000. California State Teachers Retirement System purchased a new stake in shares of Chime Financial during the 2nd quarter worth approximately $59,367,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Chime Financial by 2,720.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after acquiring an additional 2,658,816 shares during the last quarter.

Insiders Place Their Bets

In other news, insider Ryan A. King sold 375,000 shares of Chime Financial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $30.27, for a total transaction of $11,351,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the sale, the insider directly owned 405,663 shares of the company’s stock, valued at $13,248,953.58. This represents a 91.66% 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 13,879,790 shares of company stock valued at $451,025,723. 12.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Barclays lifted their price objective on shares of Chime Financial from $26.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. The Goldman Sachs Group boosted their target price on shares of Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Piper Sandler upped their target price on shares of Chime Financial from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of Chime Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.74.

Chime Financial Price Performance

Chime Financial stock opened at $33.76 on Tuesday. The firm has a market capitalization of $12.78 billion, a P/E ratio of -482.22 and a beta of 0.60. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $34.44. The company’s 50-day moving average is $26.75 and its 200 day moving average is $22.16.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The business had revenue of $669.77 million during the quarter. During the same quarter last year, the firm earned ($7.29) EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. Research analysts anticipate that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

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.