Capital Research Global Investors Sells 775,074 Shares of Chime Financial, Inc. $CHYM

Capital Research Global Investors lowered its position in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,102,983 shares of the company’s stock after selling 775,074 shares during the period. Capital Research Global Investors owned about 1.63% of Chime Financial worth $153,612,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Chime Financial by 5,239.9% during the fourth quarter. Parallel Advisors LLC now owns 172,480 shares of the company’s stock valued at $4,341,000 after buying an additional 169,250 shares during the period. State of Wyoming increased its stake in shares of Chime Financial by 40.3% during the fourth quarter. State of Wyoming now owns 9,041 shares of the company’s stock valued at $228,000 after buying an additional 2,597 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Chime Financial by 628.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 647,348 shares of the company’s stock valued at $16,294,000 after buying an additional 558,481 shares during the period. Cogent Private Wealth Inc. purchased a new position in shares of Chime Financial during the fourth quarter valued at $1,007,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Chime Financial by 4.6% during the fourth quarter. BNP Paribas Financial Markets now owns 416,463 shares of the company’s stock valued at $10,482,000 after buying an additional 18,265 shares during the period.

Chime Financial Price Performance

CHYM opened at $17.57 on Tuesday. The business’s 50-day moving average is $19.64 and its two-hundred day moving average is $21.96. Chime Financial, Inc. has a 1 year low of $16.17 and a 1 year high of $44.94. The firm has a market capitalization of $6.69 billion and a PE ratio of -2.36.

Chime Financial (NASDAQ:CHYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company had revenue of $647.39 million for the quarter. The company’s revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that Chime Financial, Inc. will post 0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. BMO Capital Markets assumed coverage on Chime Financial in a research note on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price target on the stock. Finally, KeyCorp assumed coverage on Chime Financial in a research note on Wednesday, March 4th. They set an “overweight” rating and a $30.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chime Financial currently has an average rating of “Moderate Buy” and an average price target of $31.65.

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.