Pictet Asset Management Holding SA Acquires 48,920 Shares of Chime Financial, Inc. $CHYM

Key Points

• Pictet Asset Management raised its stake in Chime by 24.2%, acquiring 48,920 shares to hold 250,708 shares worth about $6.31 million (roughly 0.07% of the company) at the end of the quarter.
• Chime reported a Q result of ($0.12) EPS, beating estimates by $0.08, with revenue of $596.36 million up 25.5% year-over-year, but still shows a negative net margin (46.18%) and negative return on equity (70.90%).
• Analysts are generally positive, with a consensus rating of Moderate Buy and a $31.50 average price target, driven by multiple Buy/Strong Buy recommendations despite some Hold and one Sell.

Pictet Asset Management Holding SA grew its holdings in shares of Chime Financial, Inc. (NASDAQ:CHYM - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,708 shares of the company's stock after acquiring an additional 48,920 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Chime Financial worth $6,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CHYM. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the 2nd quarter valued at $33,000. Scopus Asset Management L.P. bought a new stake in shares of Chime Financial during the 2nd quarter valued at $34,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial during the 2nd quarter valued at $40,000. Osaic Holdings Inc. bought a new stake in shares of Chime Financial during the 2nd quarter valued at $45,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of Chime Financial during the 3rd quarter valued at $50,000.

Chime Financial Stock Performance

CHYM opened at $22.24 on Monday. Chime Financial, Inc. has a fifty-two week low of $16.17 and a fifty-two week high of $44.94. The firm's fifty day moving average is $20.98 and its 200 day moving average is $22.03. The stock has a market cap of $8.54 billion and a price-to-earnings ratio of -2.94.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The company had revenue of $596.36 million for the quarter. During the same quarter last year, the firm posted ($0.30) EPS. The firm's quarterly revenue was up 25.5% compared to the same quarter last year. On average, equities research analysts predict that Chime Financial, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CHYM has been the subject of a number of recent research reports. Rothschild & Co Redburn raised shares of Chime Financial to a "hold" rating in a research report on Monday, January 26th. Wells Fargo & Company initiated coverage on shares of Chime Financial in a research report on Monday, April 13th. They set an "overweight" rating and a $25.00 price objective for the company. Texas Capital raised shares of Chime Financial to a "strong-buy" rating in a research report on Tuesday, April 14th. KeyCorp began coverage on shares of Chime Financial in a research note on Wednesday, March 4th. They set an "overweight" rating and a $30.00 target price on the stock. Finally, Compass Point upgraded shares of Chime Financial from a "neutral" rating to a "buy" rating and lowered their target price for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Chime Financial has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

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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