Harbor Capital Advisors Inc. Invests $833,000 in Chime Financial, Inc. $CHYM

Harbor Capital Advisors Inc. acquired a new stake in Chime Financial, Inc. (NASDAQ:CHYM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 33,092 shares of the company’s stock, valued at approximately $833,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CHYM. Galileo PTC Ltd acquired a new position in Chime Financial in the second quarter valued at approximately $1,803,793,000. ICONIQ Capital LLC acquired a new stake in Chime Financial during the second quarter worth approximately $518,844,000. Dragoneer Investment Group LLC purchased a new stake in shares of Chime Financial during the 2nd quarter worth approximately $295,022,000. Capital Research Global Investors boosted its holdings in shares of Chime Financial by 90.0% in the 3rd quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock valued at $138,730,000 after buying an additional 3,258,179 shares in the last quarter. Finally, Orland Properties Ltd acquired a new position in shares of Chime Financial in the 2nd quarter valued at $159,093,000.

Chime Financial Stock Performance

Chime Financial stock opened at $19.24 on Monday. The stock has a 50 day moving average of $21.16 and a two-hundred day moving average of $21.97. Chime Financial, Inc. has a twelve month low of $16.17 and a twelve month high of $44.94. The stock has a market capitalization of $7.39 billion and a price-to-earnings ratio of -2.54.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.The business had revenue of $596.36 million for the quarter. During the same period in the previous year, the firm posted ($0.30) EPS. The company’s revenue for the quarter was up 25.5% on a year-over-year basis.

Analysts Set New Price Targets

CHYM has been the topic of several research analyst reports. B. Riley Financial started coverage on shares of Chime Financial in a research note on Thursday, December 11th. They set a “buy” rating and a $35.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods raised Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Wall Street Zen cut Chime Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Rothschild & Co Redburn raised Chime Financial to a “hold” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.28.

Insider Buying and Selling at Chime Financial

In other news, General Counsel Adam B. Frankel sold 4,382 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $27.29, for a total value of $119,584.78. Following the completion of the sale, the general counsel owned 209,500 shares in the company, valued at approximately $5,717,255. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew S. Newcomb sold 10,000 shares of Chime Financial 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 completion of the sale, the chief financial officer directly owned 2,240,798 shares in the company, valued at approximately $62,764,751.98. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 64,882 shares of company stock valued at $1,816,685.

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.