Ieq Capital LLC Buys Shares of 2,312,846 Chime Financial, Inc. $CHYM

Ieq Capital LLC bought a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,312,846 shares of the company’s stock, valued at approximately $58,214,000. Ieq Capital LLC owned 0.62% of Chime Financial as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lunate Capital Ltd purchased a new position in Chime Financial during the 3rd quarter valued at about $36,503,000. Davis Selected Advisers purchased a new position in Chime Financial during the 3rd quarter valued at about $48,391,000. Farther Finance Advisors LLC increased its position 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 purchasing an additional 69,866 shares during the period. Transcend Capital Advisors LLC purchased a new position in Chime Financial during the 4th quarter valued at about $1,286,000. Finally, Baxter Bros Inc. purchased a new position in Chime Financial during the 4th quarter valued at about $2,799,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHYM. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. KeyCorp began coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective on the stock. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Chime Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.65.

Chime Financial Stock Down 3.2%

CHYM stock opened at $16.70 on Friday. The firm has a 50 day moving average of $19.55 and a 200 day moving average of $21.89. The stock has a market capitalization of $6.36 billion and a PE ratio of -2.25. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $38.67.

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

Insider Buying and Selling

In related news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the completion of the sale, the general counsel directly owned 306,795 shares in the company, valued at $5,522,310. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.30% of the stock is owned by company insiders.

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.