Perigon Wealth Management LLC Buys New Position in Chime Financial, Inc. $CHYM

Key Points

• Perigon Wealth Management initiated a new position in Chime Financial (NASDAQ:CHYM) in Q4, buying 54,502 shares valued at approximately $1.37 million.
• Several large institutions also accumulated CHYM, including Galileo PTC, ICONIQ, Dragoneer and Orland, while Capital Research Global Investors boosted its stake by 90% to 6,878,057 shares worth about $138.7 million.
• Company insiders sold a total of 64,882 shares (~$1.82 million) in the quarter, and Wall Street’s consensus is a Moderate Buy with an average price target of $32.28 after Chime reported revenue up 25.5% and an EPS beat for the most recent quarter.

Perigon Wealth Management LLC purchased a new position in Chime Financial, Inc. (NASDAQ:CHYM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 54,502 shares of the company's stock, valued at approximately $1,372,000.

Several other large investors also recently bought and sold shares of CHYM. Galileo PTC Ltd acquired a new position in shares of Chime Financial during the second quarter worth $1,803,793,000. ICONIQ Capital LLC acquired a new stake in Chime Financial during the 2nd quarter valued at $518,844,000. Dragoneer Investment Group LLC acquired a new stake in Chime Financial during the 2nd quarter valued at $295,022,000. Capital Research Global Investors increased its stake in Chime Financial by 90.0% during the 3rd quarter. Capital Research Global Investors now owns 6,878,057 shares of the company's stock worth $138,730,000 after buying an additional 3,258,179 shares during the period. Finally, Orland Properties Ltd purchased a new stake in Chime Financial during the 2nd quarter worth $159,093,000.

Insider Buying and Selling

In other Chime Financial news, CFO Matthew S. Newcomb sold 10,000 shares of the business's stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the completion of the transaction, the chief financial officer directly owned 2,240,798 shares of the company's stock, valued at $62,764,751.98. The trade was a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher R. Britt sold 50,000 shares of the company's stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total transaction of $1,403,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,882 shares of company stock valued at $1,816,685 in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CHYM shares. Wall Street Zen cut Chime Financial from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group raised their price objective on Chime Financial from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. The Goldman Sachs Group lifted their price objective on Chime Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, January 6th. B. Riley Financial began coverage on Chime Financial in a research report on Thursday, December 11th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, KeyCorp began coverage on Chime Financial in a research note on Wednesday, March 4th. They set an "overweight" rating and a $30.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Chime Financial presently has an average rating of "Moderate Buy" and an average price target of $32.28.

Chime Financial Stock Performance

NASDAQ:CHYM opened at $19.24 on Monday. The firm has a market capitalization of $7.39 billion and a PE ratio of -2.54. The stock has a 50 day moving average of $21.16 and a 200-day moving average of $21.97. Chime Financial, Inc. has a 52 week low of $16.17 and a 52 week high of $44.94.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.The business had revenue of $596.36 million for the quarter. During the same period last year, the business posted ($0.30) EPS. The company's revenue for the quarter was up 25.5% on a year-over-year basis.

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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