Chime Financial (NASDAQ:CHYM) Rating Increased to Hold at Wall Street Zen

Chime Financial (NASDAQ:CHYM) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. B. Riley Financial started coverage on shares of Chime Financial in a report on Thursday, December 11th. They set a “buy” rating and a $35.00 target price for the company. Rothschild & Co Redburn upgraded Chime Financial to a “hold” rating in a research report on Monday, January 26th. The Goldman Sachs Group raised their target price on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Williams Trading set a $17.00 price objective on shares of Chime Financial in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.24.

Chime Financial Stock Up 1.8%

NASDAQ:CHYM opened at $19.69 on Friday. The company has a market capitalization of $7.38 billion and a PE ratio of -2.65. Chime Financial has a 52-week low of $16.17 and a 52-week high of $44.94. The stock’s 50 day moving average price is $25.27 and its 200 day moving average price is $23.82.

Insider Activity

In other Chime Financial news, Director James Feuille sold 176,168 shares of Chime Financial stock in a transaction on Thursday, December 11th. The stock was 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 $191,058,664.32. The trade was a 2.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher R. Britt sold 50,000 shares of Chime Financial stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 256,539 shares of company stock worth $6,973,943 in the last quarter.

Institutional Investors Weigh In On Chime Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new stake in Chime Financial during the second quarter worth approximately $9,519,000. Norges Bank bought a new position in Chime Financial during the second quarter valued at about $24,157,000. Federated Hermes Inc. raised its stake in shares of Chime Financial by 11.1% in the third quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock valued at $17,421,000 after purchasing an additional 86,593 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of Chime Financial by 1,203.2% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 81,450 shares of the company’s stock valued at $1,643,000 after acquiring an additional 75,200 shares in the last quarter. Finally, Seven Grand Managers LLC bought a new position in shares of Chime Financial during the 2nd quarter worth approximately $3,451,000.

Chime Financial Company 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.