1,297,192 Shares in Chime Financial, Inc. $CHYM Acquired by Spyglass Capital Management LLC

Spyglass Capital Management LLC purchased a new position in Chime Financial, Inc. (NASDAQ:CHYM) in the first quarter, HoldingsChannel.com reports. The firm purchased 1,297,192 shares of the company’s stock, valued at approximately $24,296,000. Chime Financial comprises 1.7% of Spyglass Capital Management LLC’s holdings, making the stock its 25th biggest holding.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada grew its position in Chime Financial by 23.1% in the first quarter. Royal Bank of Canada now owns 54,365 shares of the company’s stock valued at $1,019,000 after acquiring an additional 10,195 shares in the last quarter. Ranger Investment Management L.P. lifted its position in shares of Chime Financial by 52.3% during the first quarter. Ranger Investment Management L.P. now owns 900,285 shares of the company’s stock worth $16,862,000 after purchasing an additional 309,030 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Chime Financial by 392.5% in the first quarter. The Manufacturers Life Insurance Company now owns 55,024 shares of the company’s stock valued at $1,031,000 after purchasing an additional 43,851 shares during the period. Delta Global Management LP boosted its stake in shares of Chime Financial by 18.0% in the first quarter. Delta Global Management LP now owns 860,750 shares of the company’s stock valued at $16,122,000 after purchasing an additional 131,367 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Chime Financial during the 1st quarter valued at $189,000.

Chime Financial Stock Up 2.3%

NASDAQ:CHYM opened at $22.37 on Wednesday. The business’s 50 day moving average is $19.31 and its two-hundred day moving average is $20.87. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $35.34. The company has a market cap of $8.52 billion and a PE ratio of -3.01.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating 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 business had revenue of $647.39 million during the quarter. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, sell-side analysts expect that Chime Financial, Inc. will post 0.3 EPS for the current fiscal year.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the transaction, the general counsel owned 303,795 shares of the company’s stock, valued at $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CHYM shares. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. Barclays started coverage on Chime Financial in a research note on Wednesday, July 8th. They set an “overweight” rating and a $26.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Finally, Wells Fargo & Company boosted their price target on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Five analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chime Financial currently has a consensus rating of “Buy” and an average target price of $29.19.

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.