Chime Financial, Inc. $CHYM Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Chime Financial position by 2,720.3% in the first quarter, acquiring 2.66 million additional shares and holding 2.76 million shares worth approximately $51.6 million, or 0.72% of the company.
• Chime reported quarterly earnings of $0.13 per share, exceeding the $0.03 consensus estimate, while revenue rose 24.8% year over year to $647.4 million. The stock opened at $21.86 and was reported up 5.7%.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $29.19, although one firm reiterated a sell rating. General Counsel Adam B. Frankel also sold 3,000 shares, while insiders collectively own 12.3% of the company.

Arrowstreet Capital Limited Partnership increased its position in shares of Chime Financial, Inc. (NASDAQ:CHYM - Free Report) by 2,720.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,756,555 shares of the company's stock after buying an additional 2,658,816 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.72% of Chime Financial worth $51,630,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in Chime Financial in the second quarter worth approximately $33,000. Scopus Asset Management L.P. purchased a new stake in Chime Financial in the second quarter valued at $34,000. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial in the 4th quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial in the 2nd quarter valued at $40,000. Finally, Osaic Holdings Inc. purchased a new position in shares of Chime Financial during the 2nd quarter worth $45,000.

Chime Financial Trading Up 5.7%

NASDAQ:CHYM opened at $21.86 on Tuesday. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $35.34. The firm has a market cap of $8.33 billion and a PE ratio of -2.94. The stock has a fifty day moving average price of $19.20 and a 200 day moving average price of $20.90.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The company had revenue of $647.39 million for the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The business's revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts forecast that Chime Financial, Inc. will post 0.3 EPS for the current year.

Insider Activity 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 shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the sale, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.30% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on CHYM shares. Weiss Ratings restated a "sell (e+)" rating on shares of Chime Financial in a report on Wednesday, June 3rd. BMO Capital Markets lowered their target price on shares of Chime Financial from $30.00 to $28.00 and set an "outperform" rating for the company in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their price target on shares of Chime Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Finally, Barclays assumed coverage on shares of Chime Financial in a report on Wednesday, July 8th. They issued an "overweight" rating and a $26.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.19.

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.

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