Chime Financial, Inc. $CHYM Stock: Jefferies Financial Group Inc. Raises Position

Key Points

• Jefferies raised its Chime stake by 1,355% in the third quarter, adding 610,244 shares to hold 655,280 shares valued at about $17.5 million. Other institutional investors also opened or increased positions.
• Chime reported quarterly EPS of $0.11, beating the $0.09 consensus estimate, while revenue rose 32.1% year over year to $718 million.
• Insiders sold nearly 15.9 million shares worth about $523.8 million in the last quarter. Analysts remained broadly positive, with a consensus “Buy” rating and a $39.47 target price.

Jefferies Financial Group Inc. raised its holdings in Chime Financial, Inc. (NASDAQ:CHYM - Free Report) by 1,355.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 655,280 shares of the company's stock after purchasing an additional 610,244 shares during the period. Jefferies Financial Group Inc. owned about 0.17% of Chime Financial worth $17,457,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CHYM. Machina Capital S.A.S. purchased a new stake in shares of Chime Financial in the third quarter valued at approximately $816,000. Lunate Capital Ltd acquired a new position in shares of Chime Financial during the 3rd quarter worth approximately $48,212,000. Lido Advisors LLC purchased a new position in shares of Chime Financial during the 3rd quarter valued at approximately $201,000. Keybank National Association OH purchased a new position in shares of Chime Financial during the 3rd quarter valued at approximately $259,000. Finally, M&G PLC purchased a new position in shares of Chime Financial during the 3rd quarter valued at approximately $12,014,000.

Insider Buying and Selling

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the transaction, the insider owned 405,663 shares of the company's stock, valued at approximately $13,248,953.58. The trade was a 91.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shawn Carolan sold 302,306 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $33.21, for a total value of $10,039,582.26. Following the transaction, the director directly owned 1,800 shares in the company, valued at $59,778. This trade represents a 99.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 15,921,447 shares of company stock worth $523,840,761. 12.30% of the stock is currently owned by company insiders.

Chime Financial Trading Up 1.7%

CHYM stock opened at $33.08 on Thursday. The company has a market cap of $12.52 billion, a price-to-earnings 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. The firm has a 50-day moving average of $29.94 and a two-hundred day moving average of $23.99.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $718.00 million for the quarter. Chime Financial had a return on equity of 6.72% and a net margin of 3.05%. The company's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. As a group, equities analysts forecast that Chime Financial, Inc. will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHYM. Morgan Stanley boosted their price target on shares of Chime Financial from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, September 9th. The Goldman Sachs Group upped their price objective on shares of Chime Financial from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Scotiabank increased their price objective on shares of Chime Financial from $42.00 to $44.00 and gave the company a "sector outperform" rating in a report on Thursday, November 5th. Barclays lifted their target price on shares of Chime Financial from $33.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, September 9th. Finally, BMO Capital Markets boosted their target price on shares of Chime Financial from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $39.47.

Chime Financial Company 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.

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