Chime Financial, Inc. $CHYM Shares Bought by Atreides Management LP

Key Points

• Atreides Management increased its Chime Financial position by 7.9% in the first quarter, acquiring 118,946 shares and bringing its holdings to 1.62 million shares valued at approximately $30.4 million.
• Chime reported first-quarter earnings of $0.13 per share, beating the $0.03 consensus estimate, while revenue rose 24.8% year over year to $647.39 million. The company remains unprofitable overall, with a negative net margin of 41.87%.
• CHYM shares opened at $22.37, up 2.3%, and analysts maintained a generally positive outlook: the stock has an average “Buy” rating and a consensus price target of $29.19, despite one “Sell” rating and recent insider selling.

Atreides Management LP raised its position in shares of Chime Financial, Inc. (NASDAQ:CHYM - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,622,734 shares of the company's stock after buying an additional 118,946 shares during the period. Atreides Management LP owned about 0.43% of Chime Financial worth $30,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CHYM. JPMorgan Chase & Co. acquired a new position in Chime Financial in the 2nd quarter valued at about $693,000. Legal & General Group Plc acquired a new position in shares of Chime Financial in the second quarter valued at approximately $136,000. Russell Investments Group Ltd. acquired a new position in shares of Chime Financial in the second quarter valued at approximately $958,000. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial during the 2nd quarter worth approximately $33,000. Finally, Marshall Wace LLP purchased a new stake in Chime Financial during the 2nd quarter worth approximately $9,087,000.

Chime Financial Trading Up 2.3%

Shares of CHYM stock opened at $22.37 on Wednesday. The company has a market cap of $8.52 billion and a P/E ratio of -3.01. The firm has a fifty day moving average price of $19.31 and a 200 day moving average price of $20.87. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $35.34.

Chime Financial (NASDAQ:CHYM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates 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 was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that Chime Financial, Inc. will post 0.3 EPS for the current year.

Insider Buying and Selling at Chime Financial

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the business'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 transaction of $52,500.00. Following the completion of the sale, the general counsel owned 303,795 shares in the company, valued at $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

CHYM has been the subject of several recent research reports. Compass Point raised shares of Chime Financial from a "neutral" rating to a "buy" rating and decreased their price target for the company from $33.00 to $27.00 in a research report on Monday, April 13th. Wells Fargo & Company increased their price objective on Chime Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Chime Financial in a report on Wednesday, June 3rd. BMO Capital Markets lowered their target price on Chime Financial from $30.00 to $28.00 and set an "outperform" rating for the company in a research note on Wednesday, July 22nd. Finally, Freedom Capital upgraded Chime Financial to a "strong-buy" rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $29.19.

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.

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