Atreides Management LP Buys Shares of 1,503,788 Chime Financial, Inc. $CHYM

Atreides Management LP bought a new stake in Chime Financial, Inc. (NASDAQ:CHYM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,503,788 shares of the company’s stock, valued at approximately $37,850,000. Atreides Management LP owned about 0.40% of Chime Financial as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial in the second quarter valued at $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial in the second quarter valued at $34,000. PNC Financial Services Group Inc. acquired a new stake in Chime Financial in the fourth quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new stake in Chime Financial in the second quarter valued at $40,000. Finally, Osaic Holdings Inc. acquired a new stake in Chime Financial in the second quarter valued at $45,000.

Insiders Place Their Bets

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

CHYM has been the topic of several research reports. Texas Capital raised Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Wells Fargo & Company upped their price objective on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. UBS Group upped their price objective on Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.65.

Chime Financial Trading Down 2.6%

NASDAQ CHYM opened at $16.60 on Thursday. The business’s 50-day moving average price is $19.42 and its 200 day moving average price is $21.85. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $38.67. The company has a market capitalization of $6.32 billion and a PE ratio of -2.23.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $647.39 million for the quarter. The company’s revenue was up 24.8% compared to the same quarter last year. Equities analysts predict that Chime Financial, Inc. will post 0.3 EPS for the current year.

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.