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

Chime Financial (NASDAQ:CHYM) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

CHYM has been the topic of a number of other research reports. The Goldman Sachs Group lifted their target price on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. B. Riley Financial began coverage on Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price objective 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 for the company in a research report on Thursday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Chime Financial in a report on Thursday, October 30th. Finally, Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chime Financial has an average rating of “Moderate Buy” and a consensus target price of $32.24.

Chime Financial Trading Up 1.8%

Shares of Chime Financial 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 $23.82. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94. The company has a market capitalization of $7.38 billion and a PE ratio of -2.65.

Insider Activity at Chime Financial

In other news, 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 value of $161,158.40. Following the completion of the transaction, the general counsel directly owned 244,416 shares in the company, valued at approximately $5,826,877.44. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew S. Newcomb sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 2,240,798 shares of the company’s stock, valued at approximately $62,764,751.98. This represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 256,539 shares of company stock worth $6,973,943 in the last ninety days.

Institutional Trading of Chime Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new position in Chime Financial during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new position in shares of Chime Financial during the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd raised its holdings 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 worth $37,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Chime Financial during the 2nd quarter valued at about $40,000.

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.