Chime Financial (NASDAQ:CHYM) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Chime Financial (NASDAQ:CHYM) from a sell rating to a hold rating in a report released on Sunday morning.

CHYM has been the subject of several other research reports. Rothschild & Co Redburn upgraded Chime Financial to a “hold” rating in a research report on Monday, January 26th. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a report on Thursday, October 30th. Piper Sandler dropped their target price on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Williams Trading set a $17.00 target price on shares of Chime Financial in a research report on Monday, November 3rd. Finally, B. Riley Financial began coverage on shares of Chime Financial in a research report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.24.

Chime Financial Price Performance

Shares of CHYM stock opened at $19.69 on Friday. The stock’s fifty day simple moving average is $25.27 and its 200 day simple moving average is $23.75. Chime Financial has a one year low of $16.17 and a one year high of $44.94. The firm has a market cap of $7.38 billion and a price-to-earnings ratio of -2.65.

Insider Buying and Selling

In other Chime Financial news, Director James Feuille sold 176,168 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $27.12, for a total value of $4,777,676.16. Following the completion of the sale, the director owned 7,044,936 shares of the company’s stock, valued at approximately $191,058,664.32. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Adam B. Frankel sold 6,760 shares of Chime Financial stock in a transaction on Monday, December 8th. The stock was sold at an average price of $23.84, for a total transaction of $161,158.40. Following the transaction, the general counsel directly owned 244,416 shares in the company, valued at approximately $5,826,877.44. This represents a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 256,539 shares of company stock valued at $6,973,943 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in Chime Financial in the second quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial in the second quarter valued at $34,000. PNC Financial Services Group Inc. acquired a new position in Chime Financial during the fourth quarter worth $25,000. Daiwa Securities Group Inc. bought a new stake in Chime Financial during the second quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after acquiring an additional 1,276 shares during the last quarter.

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.