Granahan Investment Management LLC Has $8.36 Million Stake in Chime Financial, Inc. $CHYM

Key Points

• Granahan Investment Management boosted its Chime Financial stake by 285.4% in the first quarter, ending with 446,152 shares valued at about $8.36 million.
• Chime reported Q1 EPS of $0.13, beating estimates by $0.10, on revenue of $647.39 million that rose 24.8% year over year.
• Analysts are mixed but generally constructive: Chime has a Moderate Buy consensus with a $29.19 average price target, though Weiss Ratings kept a sell rating and several firms recently adjusted targets.

Granahan Investment Management LLC raised its stake in shares of Chime Financial, Inc. (NASDAQ:CHYM - Free Report) by 285.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 446,152 shares of the company's stock after purchasing an additional 330,397 shares during the period. Granahan Investment Management LLC owned 0.12% of Chime Financial worth $8,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial in the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the second quarter worth about $34,000. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial during the fourth quarter worth about $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial in the second quarter worth approximately $40,000. Finally, Osaic Holdings Inc. acquired a new position in shares of Chime Financial in the second quarter worth approximately $45,000.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $20.69 on Friday. The company has a market capitalization of $7.88 billion and a price-to-earnings ratio of -2.78. The business's 50-day moving average is $19.12 and its 200-day moving average is $20.98. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $36.15.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating 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. Analysts anticipate that Chime Financial, Inc. will post 0.3 EPS for the current year.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.30% of the company's stock.

Analysts Set New Price Targets

CHYM has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Canaccord Genuity Group restated a "buy" rating and issued a $40.00 price target on shares of Chime Financial in a research report on Monday, May 11th. Texas Capital raised shares of Chime Financial to a "strong-buy" rating in a research note on Tuesday, April 14th. BMO Capital Markets decreased their price objective on shares of Chime Financial from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chime Financial presently has an average rating of "Moderate Buy" and a consensus price target 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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