SkyBridge Capital II LLC Reduces Stock Holdings in Chime Financial, Inc. $CHYM

Key Points

• SkyBridge Capital II LLC cut its Chime Financial stake by 96.9% in the first quarter, selling 86,126 shares and retaining just 2,800 shares valued at approximately $52,000.
• Institutional sentiment was mixed, with Tiger Global increasing its position and several funds initiating new stakes. Analysts remain broadly positive, assigning the stock an average “Buy” rating and a consensus price target of $29.19.
• Chime reported first-quarter revenue of $647.39 million, up 24.8% year over year, and adjusted earnings of $0.13 per share versus expectations of $0.03. Shares opened at $22.37, while the company continued to report negative net margins and return on equity.

SkyBridge Capital II LLC trimmed its position in shares of Chime Financial, Inc. (NASDAQ:CHYM - Free Report) by 96.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,800 shares of the company's stock after selling 86,126 shares during the period. Chime Financial accounts for approximately 0.3% of SkyBridge Capital II LLC's investment portfolio, making the stock its 4th biggest position. SkyBridge Capital II LLC's holdings in Chime Financial were worth $52,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tiger Global Management LLC lifted its stake in Chime Financial by 13.8% in the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company's stock valued at $357,225,000 after acquiring an additional 1,721,731 shares during the last quarter. Aspect Management LLC bought a new position in shares of Chime Financial in the 4th quarter valued at about $300,361,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Chime Financial during the 4th quarter worth about $129,091,000. Orland Properties Ltd bought a new stake in shares of Chime Financial in the 2nd quarter valued at about $159,093,000. Finally, Scge Management L.P. bought a new stake in shares of Chime Financial in the 2nd quarter valued at about $152,563,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHYM. Texas Capital upgraded shares of Chime Financial to a "strong-buy" rating in a research note on Tuesday, April 14th. Compass Point upgraded Chime Financial from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $33.00 to $27.00 in a research note on Monday, April 13th. BMO Capital Markets cut their price objective on Chime Financial from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Wednesday, July 22nd. Wall Street Zen raised Chime Financial from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Chime Financial in a report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $29.19.

Chime Financial Stock Up 2.3%

Shares of CHYM stock opened at $22.37 on Wednesday. The firm has a 50 day moving average price of $19.31 and a two-hundred day moving average price of $20.87. The company has a market capitalization of $8.52 billion and a PE ratio of -3.01. 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 issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company had revenue of $647.39 million during the quarter. The business's revenue was up 24.8% compared to the same quarter last year. As a group, research analysts expect that Chime Financial, Inc. will post 0.3 EPS for the current year.

Insider Buying and Selling at Chime Financial

In other news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction 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 of the company's stock, valued at approximately $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.30% of the company's stock.

Chime Financial Company 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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