Sequoia Financial Advisors LLC Makes New $1.07 Million Investment in Chime Financial, Inc. $CHYM

Sequoia Financial Advisors LLC acquired a new position in Chime Financial, Inc. (NASDAQ:CHYM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 42,382 shares of the company’s stock, valued at approximately $1,067,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial in the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. acquired a new position in Chime Financial during the 2nd quarter worth approximately $34,000. Daiwa Securities Group Inc. acquired a new position in Chime Financial during the 2nd quarter worth approximately $40,000. Osaic Holdings Inc. acquired a new position in Chime Financial during the 2nd quarter worth approximately $45,000. Finally, Parallel Advisors LLC acquired a new position in Chime Financial during the 3rd quarter worth approximately $65,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CHYM shares. BMO Capital Markets started coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. KeyCorp started coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 target price on shares of Chime Financial in a report on Monday. Finally, Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Sunday, April 12th. Four 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial currently has an average rating of “Moderate Buy” and an average price target of $31.65.

Chime Financial Stock Down 3.9%

Shares of NASDAQ CHYM opened at $17.39 on Thursday. The firm has a market cap of $6.68 billion and a PE ratio of -2.34. Chime Financial, Inc. has a 12-month low of $16.17 and a 12-month high of $44.94. The company’s fifty day simple moving average is $20.64 and its 200 day simple moving average is $22.08.

Chime Financial (NASDAQ:CHYM) last issued 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 business had revenue of $647.39 million for the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. Chime Financial’s revenue was up 24.8% compared to the same quarter last year. On average, equities analysts predict that Chime Financial, Inc. will post 0.25 earnings per share 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.