Caprock Group LLC Buys New Shares in Chime Financial, Inc. $CHYM

Caprock Group LLC purchased a new position in Chime Financial, Inc. (NASDAQ:CHYM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 81,770 shares of the company’s stock, valued at approximately $1,649,000.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. acquired a new position in Chime Financial in the 2nd quarter valued at approximately $34,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial in the 2nd quarter worth approximately $40,000. Osaic Holdings Inc. acquired a new stake in shares of Chime Financial during the 2nd quarter worth approximately $45,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Chime Financial during the 3rd quarter worth approximately $50,000.

Insiders Place Their Bets

In related news, CFO Matthew S. Newcomb sold 10,000 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the transaction, the chief financial officer owned 2,240,798 shares in the company, valued at $62,764,751.98. This represents a 0.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher R. Britt sold 50,000 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total transaction of $1,403,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 256,539 shares of company stock worth $6,973,943 in the last three months.

Chime Financial Trading Up 1.8%

NASDAQ:CHYM opened at $19.69 on Friday. The stock has a market capitalization of $7.38 billion and a P/E ratio of -2.65. Chime Financial, Inc. has a 1 year low of $16.17 and a 1 year high of $44.94. The firm has a 50 day moving average of $25.27 and a 200-day moving average of $23.88.

Analysts Set New Price Targets

CHYM has been the subject of several research reports. B. Riley Financial started coverage on Chime Financial in a research report on Thursday, December 11th. They issued a “buy” rating and a $35.00 target price for the company. UBS Group reduced their price objective on shares of Chime Financial from $37.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Piper Sandler decreased their target price on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Wall Street Zen cut shares of Chime Financial from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.24.

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.