Chime Financial (NASDAQ:CHYM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Chime Financial (NASDAQ:CHYM) from a sell rating to a hold rating in a report published on Sunday morning.

Other equities research analysts also recently issued research reports about the stock. B. Riley Financial started coverage on shares of Chime Financial in a research note on Thursday, December 11th. They issued a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Williams Trading set a $17.00 price target on shares of Chime Financial in a research report on Monday, November 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a report on Thursday, October 30th. Finally, Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and a consensus target price of $32.24.

Chime Financial Price Performance

Shares of Chime Financial stock opened at $19.65 on Friday. Chime Financial has a 52-week low of $16.17 and a 52-week high of $44.94. The firm has a market capitalization of $7.36 billion and a PE ratio of -2.64. The company’s fifty day moving average price is $25.09 and its two-hundred day moving average price is $23.55.

Insider Activity at Chime Financial

In other news, Director James Feuille sold 176,168 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $27.12, for a total value of $4,777,676.16. Following the transaction, the director owned 7,044,936 shares of the company’s stock, valued at approximately $191,058,664.32. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew S. Newcomb sold 10,000 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the completion of the transaction, the chief financial officer owned 2,240,798 shares in the company, valued at $62,764,751.98. This trade represents a 0.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 256,539 shares of company stock worth $6,973,943 in the last quarter.

Institutional Investors Weigh In On Chime Financial

Hedge funds have recently made changes to their positions in the stock. Galileo PTC Ltd bought a new stake in shares of Chime Financial during the 2nd quarter valued at about $1,803,793,000. ICONIQ Capital LLC acquired a new position in Chime Financial in the second quarter valued at approximately $518,844,000. Tiger Global Management LLC boosted its holdings in shares of Chime Financial by 13.8% during the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after buying an additional 1,721,731 shares in the last quarter. Aspect Management LLC acquired a new stake in shares of Chime Financial during the 4th quarter worth approximately $300,361,000. Finally, Dragoneer Investment Group LLC bought a new stake in shares of Chime Financial in the 2nd quarter valued at $295,022,000.

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.