Chime Financial, Inc. $CHYM Shares Sold by Tiger Global Management LLC

Tiger Global Management LLC decreased its holdings in Chime Financial, Inc. (NASDAQ:CHYM) by 21.9% in the 1st quarter, HoldingsChannel reports. The fund owned 11,081,780 shares of the company’s stock after selling 3,110,719 shares during the quarter. Chime Financial comprises about 0.9% of Tiger Global Management LLC’s investment portfolio, making the stock its 25th biggest holding. Tiger Global Management LLC’s holdings in Chime Financial were worth $207,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CHYM. Farther Finance Advisors LLC grew its stake in shares of Chime Financial by 2,794.6% during the 4th quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock worth $1,821,000 after purchasing an additional 69,866 shares during the period. Transcend Capital Advisors LLC acquired a new stake in shares of Chime Financial in the fourth quarter valued at about $1,286,000. Baxter Bros Inc. acquired a new stake in shares of Chime Financial in the fourth quarter valued at about $2,799,000. Hsbc Holdings PLC purchased a new stake in Chime Financial during the fourth quarter worth about $1,274,000. Finally, Davis Selected Advisers boosted its holdings in Chime Financial by 3.0% during the fourth quarter. Davis Selected Advisers now owns 2,472,106 shares of the company’s stock worth $62,223,000 after buying an additional 72,940 shares in the last quarter.

Insider Transactions at Chime Financial

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $17.50, for a total value of $52,500.00. Following the sale, the general counsel owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays began coverage on shares of Chime Financial in a research report on Wednesday, July 8th. They set an “overweight” rating and a $26.00 target price on the stock. Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. BMO Capital Markets decreased their price target on Chime Financial from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company upped their price target on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chime Financial has an average rating of “Moderate Buy” and an average price target of $29.19.

Chime Financial Price Performance

Shares of NASDAQ CHYM opened at $20.69 on Friday. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $36.15. The company has a market capitalization of $7.88 billion and a PE ratio of -2.78. The firm’s 50-day moving average is $19.12 and its two-hundred day moving average is $20.98.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The business had revenue of $647.39 million for the quarter. The company’s revenue was up 24.8% compared to the same quarter last year. On average, analysts forecast that Chime Financial, Inc. will post 0.3 EPS 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.