Wall Street Zen Downgrades Chime Financial (NASDAQ:CHYM) to Sell

Chime Financial (NASDAQ:CHYM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

CHYM has been the subject of several other reports. Williams Trading set a $17.00 target price on shares of Chime Financial in a research note on Monday, November 3rd. Jefferies Financial Group started coverage on Chime Financial in a research note on Monday, November 3rd. They set a “hold” rating and a $17.00 target price for the company. B. Riley Financial initiated coverage on Chime Financial in a research note on Thursday, December 11th. They issued a “buy” rating and a $35.00 price target on the stock. The Goldman Sachs Group increased their price target on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.24.

Chime Financial Stock Performance

CHYM opened at $21.78 on Friday. The company has a market cap of $8.16 billion and a PE ratio of -2.93. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94. The firm has a 50 day moving average price of $25.46 and a 200 day moving average price of $24.21.

Insider Transactions at Chime Financial

In other Chime Financial news, Director James Feuille sold 7,229 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $24.82, for a total transaction of $179,423.78. Following the completion of the sale, the director owned 7,037,707 shares in the company, valued at $174,675,887.74. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher R. Britt sold 50,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $28.06, for a total transaction of $1,403,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 256,539 shares of company stock valued at $6,973,943.

Hedge Funds Weigh In On Chime Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC bought a new stake in shares of Chime Financial during the second quarter valued at about $9,519,000. Norges Bank bought a new position in shares of Chime Financial in the second quarter valued at approximately $24,157,000. Federated Hermes Inc. boosted its holdings in shares of Chime Financial by 11.1% in the third 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 in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Chime Financial by 1,203.2% during the third 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 period. Finally, Seven Grand Managers LLC bought a new stake in Chime Financial during the second quarter worth approximately $3,451,000.

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.