Chime Financial, Inc. (NASDAQ:CHYM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $32.2353.

A number of research analysts recently commented on CHYM shares. Wall Street Zen cut Chime Financial from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. B. Riley Financial started coverage on Chime Financial in a research note on Thursday, December 11th. They issued a “buy” rating and a $35.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research note on Thursday, October 30th. Jefferies Financial Group assumed coverage on Chime Financial in a research note on Monday, November 3rd. They issued a “hold” rating and a $17.00 price target on the stock. Finally, Rothschild & Co Redburn upgraded Chime Financial to a “hold” rating in a report on Monday, January 26th.

Insider Buying and Selling at Chime Financial

In other Chime Financial news, CEO Christopher R. Britt sold 50,000 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $28.06, for a total transaction of $1,403,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Feuille sold 176,168 shares of Chime Financial stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $27.12, for a total transaction of $4,777,676.16. Following the sale, the director owned 7,044,936 shares of the company’s stock, valued at approximately $191,058,664.32. The trade was a 2.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 256,539 shares of company stock worth $6,973,943 over the last ninety days.

Institutional Trading of Chime Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. Galileo PTC Ltd acquired a new stake in Chime Financial in the second quarter valued at approximately $1,803,793,000. ICONIQ Capital LLC purchased a new stake in shares of Chime Financial during the second quarter valued at $518,844,000. Dragoneer Investment Group LLC purchased a new position in Chime Financial in the 2nd quarter worth $295,022,000. Capital Research Global Investors raised its stake in shares of Chime Financial by 90.0% in the third quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock worth $138,730,000 after purchasing an additional 3,258,179 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chime Financial during the fourth quarter worth about $129,091,000.

Chime Financial Trading Up 1.8%

NASDAQ CHYM opened at $19.69 on Friday. The firm’s fifty day moving average price is $25.27 and its two-hundred day moving average price is $23.88. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94. The firm has a market capitalization of $7.38 billion and a P/E ratio of -2.65.

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.