Allianz Asset Management GmbH Buys New Holdings in Chime Financial, Inc. $CHYM

Allianz Asset Management GmbH purchased a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 382,246 shares of the company's stock, valued at approximately $7,828,000. Allianz Asset Management GmbH owned 0.10% of Chime Financial as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Chime Financial in the second quarter valued at approximately $693,000. Legal & General Group Plc bought a new position in Chime Financial during the second quarter worth $136,000. Russell Investments Group Ltd. bought a new position in Chime Financial during the second quarter worth $958,000. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial in the second quarter valued at $33,000. Finally, Marshall Wace LLP acquired a new position in shares of Chime Financial in the second quarter valued at $9,087,000.

Chime Financial Stock Performance

CHYM stock opened at $32.31 on Wednesday. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $34.44. The company has a market capitalization of $12.23 billion, a PE ratio of -461.51 and a beta of 0.60. The company's 50-day simple moving average is $26.98 and its 200 day simple moving average is $22.25.

Chime Financial (NASDAQ:CHYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm had revenue of $669.77 million during the quarter. During the same period in the prior year, the firm earned ($7.29) EPS. The business's revenue for the quarter was up 26.8% on a year-over-year basis. On average, analysts forecast that Chime Financial, Inc. will post 0.43 EPS for the current year.

Insider Buying and Selling

In other Chime Financial news, CEO Christopher R. Britt sold 200,000 shares of Chime Financial stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $32.04, for a total value of $6,408,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $33.04, for a total value of $38,612,757.68. Following the sale, the insider owned 369,370 shares of the company's stock, valued at approximately $12,203,984.80. The trade was a 75.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,879,790 shares of company stock valued at $451,025,723. 12.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CHYM. UBS Group raised their target price on shares of Chime Financial from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Morgan Stanley upped their price target on shares of Chime Financial from $33.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday, August 18th. Zacks Research raised shares of Chime Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 18th. Canaccord Genuity Group raised their price objective on shares of Chime Financial from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Wolfe Research boosted their price objective on Chime Financial from $32.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Chime Financial presently has an average rating of "Moderate Buy" and an average price target of $32.74.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.