Parallel Advisors LLC Raises Stock Holdings in Chime Financial, Inc. $CHYM

Parallel Advisors LLC increased its position in Chime Financial, Inc. (NASDAQ:CHYM) by 5,239.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,480 shares of the company’s stock after buying an additional 169,250 shares during the quarter. Parallel Advisors LLC’s holdings in Chime Financial were worth $4,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new position in Chime Financial during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the 2nd quarter valued at $33,000. Scopus Asset Management L.P. purchased a new position in Chime Financial during the 2nd quarter valued at $34,000. Daiwa Securities Group Inc. purchased a new position in Chime Financial during the 2nd quarter valued at $40,000. Finally, Osaic Holdings Inc. purchased a new position in Chime Financial during the 2nd quarter valued at $45,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHYM. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. BMO Capital Markets initiated coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. Finally, UBS Group increased their price target on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

Chime Financial Price Performance

Shares of Chime Financial stock opened at $17.48 on Friday. Chime Financial, Inc. has a 1 year low of $16.17 and a 1 year high of $44.94. The company has a 50-day moving average of $19.64 and a 200 day moving average of $21.94. The firm has a market cap of $6.66 billion and a price-to-earnings ratio of -2.35.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The company had revenue of $647.39 million for the quarter. Chime Financial’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities analysts anticipate that Chime Financial, Inc. will post 0.3 EPS for the current year.

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.