Davis Selected Advisers Takes Position in Chime Financial, Inc. $CHYM

Davis Selected Advisers acquired a new stake in Chime Financial, Inc. (NASDAQ:CHYM) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,399,166 shares of the company’s stock, valued at approximately $48,391,000.

Several other large investors have also bought and sold shares of CHYM. EverSource Wealth Advisors LLC acquired a new position in Chime Financial during the second quarter worth about $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial in the 2nd quarter valued at about $34,000. Daiwa Securities Group Inc. bought a new position in shares of Chime Financial during the 2nd quarter valued at about $40,000. Osaic Holdings Inc. bought a new position in shares of Chime Financial during the 2nd quarter valued at about $45,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Chime Financial in the 3rd quarter worth approximately $50,000.

Analysts Set New Price Targets

A number of analysts recently commented on CHYM shares. The Goldman Sachs Group boosted their target price on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research report on Monday, January 26th. KeyCorp initiated coverage on Chime Financial in a report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price target on the stock. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Keefe, Bruyette & Woods raised Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.28.

Chime Financial Trading Down 4.2%

CHYM stock opened at $18.83 on Thursday. Chime Financial, Inc. has a one year low of $16.17 and a one year high of $44.94. The firm has a 50-day moving average of $23.10 and a two-hundred day moving average of $22.46. The firm has a market capitalization of $7.23 billion and a PE ratio of -2.49.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The business had revenue of $596.36 million for the quarter. During the same period last year, the business earned ($0.30) earnings per share. The business’s revenue was up 25.5% on a year-over-year basis.

Insiders Place Their Bets

In other news, CFO Matthew S. Newcomb sold 10,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $28.01, for a total value of $280,100.00. Following the completion of the sale, the chief financial officer owned 2,240,798 shares in the company, valued at $62,764,751.98. This represents a 0.44% 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 firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 64,882 shares of company stock worth $1,816,685.

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.