Chime Financial, Inc.’s Lock-Up Period To Expire on December 9th (NASDAQ:CHYM)

Chime Financial’s (NASDAQ:CHYM) lock-up period is set to end on Tuesday, December 9th. Chime Financial had issued 32,000,000 shares in its initial public offering on June 12th. The total size of the offering was $864,000,000 based on an initial share price of $27.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

CHYM has been the topic of a number of recent research reports. Piper Sandler decreased their price target on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. William Blair restated an “outperform” rating on shares of Chime Financial in a research report on Tuesday, September 30th. The Goldman Sachs Group upgraded Chime Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $26.00 to $27.00 in a research report on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research report on Thursday, October 30th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.07.

Chime Financial Price Performance

Shares of Chime Financial stock opened at $22.53 on Thursday. The firm’s fifty day simple moving average is $19.54. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.10. The company had revenue of $543.52 million during the quarter. Chime Financial’s revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.34) EPS.

Institutional Inflows and Outflows

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

Chime Financial Company Profile

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.