Renaissance Technologies LLC Purchases Shares of 818,700 Chime Financial, Inc. $CHYM

Renaissance Technologies LLC acquired a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 818,700 shares of the company’s stock, valued at approximately $15,334,000. Renaissance Technologies LLC owned about 0.21% of Chime Financial at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CHYM. Transcend Capital Advisors LLC bought a new position in shares of Chime Financial in the fourth quarter worth approximately $1,286,000. Farther Finance Advisors LLC raised its holdings in Chime Financial by 2,794.6% during the 4th quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock valued at $1,821,000 after buying an additional 69,866 shares during the last quarter. Baxter Bros Inc. bought a new stake in Chime Financial during the 4th quarter valued at $2,799,000. Hsbc Holdings PLC purchased a new stake in Chime Financial during the 4th quarter valued at $1,274,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Chime Financial by 2,720.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after buying an additional 2,658,816 shares during the period.

Chime Financial Stock Performance

Chime Financial stock opened at $22.99 on Friday. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $35.34. The stock’s 50 day simple moving average is $19.60 and its two-hundred day simple moving average is $20.81. The stock has a market cap of $8.76 billion and a price-to-earnings ratio of -3.09.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CHYM shares. Freedom Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research report on Thursday, July 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 target price on shares of Chime Financial in a report on Friday. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Finally, Texas Capital raised Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Five investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $29.19.

Insiders Place Their Bets

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.50, for a total value of $52,500.00. Following the sale, the general counsel directly owned 303,795 shares of the company’s stock, valued at $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.30% of the stock is currently owned by insiders.

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.