Parallel Advisors LLC Sells 81,500 Shares of Chime Financial, Inc. $CHYM

Parallel Advisors LLC trimmed its holdings in Chime Financial, Inc. (NASDAQ:CHYM) by 73.8% during the third quarter, Holdings Channel.com reports. The fund owned 28,879 shares of the company’s stock after selling 81,500 shares during the period. Parallel Advisors LLC’s holdings in Chime Financial were worth $769,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. CenterBook Partners LP acquired a new position in Chime Financial during the third quarter worth about $576,000. Calamos Advisors LLC acquired a new stake in shares of Chime Financial in the third quarter valued at approximately $5,080,000. Claro Advisors Inc. purchased a new position in shares of Chime Financial during the 3rd quarter worth approximately $219,000. Vise Technologies Inc. acquired a new position in shares of Chime Financial during the 3rd quarter worth approximately $348,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Chime Financial during the 3rd quarter worth approximately $424,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on CHYM. Canaccord Genuity Group upped their target price on Chime Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Barclays raised their price target on Chime Financial from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Freedom Capital raised Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their price target on Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, September 9th. Finally, Weiss Ratings upgraded Chime Financial from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Chime Financial has an average rating of “Buy” and an average price target of $39.47.

Chime Financial Price Performance

Shares of NASDAQ CHYM opened at $33.08 on Thursday. The company has a 50-day simple moving average of $29.94 and a 200-day simple moving average of $23.99. The company has a market cap of $12.52 billion, a PE ratio of 174.11 and a beta of 0.74. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $35.55.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Chime Financial had a net margin of 3.05% and a return on equity of 6.72%. The business had revenue of $718.00 million for the quarter. During the same period in the previous year, the company posted ($0.15) EPS. The business’s quarterly revenue was up 32.1% on a year-over-year basis. On average, analysts anticipate that Chime Financial, Inc. will post 0.47 EPS for the current year.

Insider Transactions at Chime Financial

In other Chime Financial news, Director Cynthia Marshall sold 20,000 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $33.09, for a total transaction of $661,800.00. Following the transaction, the director owned 28,548 shares of the company’s stock, valued at $944,653.32. This represents a 41.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Adam B. Frankel sold 102,002 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $33.31, for a total value of $3,397,686.62. Following the sale, the general counsel owned 364,828 shares in the company, valued at $12,152,420.68. This trade represents a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,921,447 shares of company stock worth $523,840,761 in the last three months. 12.30% of the stock is currently owned by company insiders.

Chime Financial Profile

Chime Financial operates a digital financial services platform for consumers in the United States. Through its mobile app, the company offers spending and savings accounts, debit cards and tools for managing money. Its products also include credit-building services and features designed to help customers access direct deposits and avoid certain common banking fees. Founded in 2012 by Chris Britt and Ryan King, Chime is a financial technology company, not a bank. Banking services are provided through partner banks, including The Bancorp Bank, N.A., and Stride Bank, N.A. Chris Britt has served as the company’s chief executive officer.