Clearbridge Investments LLC Sells 362,691 Shares of Chime Financial, Inc. $CHYM

Clearbridge Investments LLC lowered its position in Chime Financial, Inc. (NASDAQ:CHYM) by 52.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 332,047 shares of the company’s stock after selling 362,691 shares during the period. Clearbridge Investments LLC owned 0.09% of Chime Financial worth $8,358,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the second quarter worth $33,000. Scopus Asset Management L.P. bought a new stake in shares of Chime Financial during the second quarter worth $34,000. PNC Financial Services Group Inc. bought a new stake in shares of Chime Financial during the fourth quarter worth $25,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial during the second quarter worth $40,000. Finally, Osaic Holdings Inc. bought a new position in shares of Chime Financial in the second quarter worth about $45,000.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the transaction, the general counsel directly owned 306,795 shares of the company’s stock, valued at approximately $5,522,310. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHYM. Wells Fargo & Company boosted their target price on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. UBS Group boosted their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Finally, Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $33.00 to $27.00 in a research report on Monday, April 13th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.65.

Chime Financial Trading Down 3.7%

Shares of NASDAQ:CHYM opened at $16.44 on Thursday. The stock has a market capitalization of $6.26 billion and a P/E ratio of -2.21. Chime Financial, Inc. has a 1-year low of $16.17 and a 1-year high of $44.94. The business has a 50-day moving average price of $19.62 and a two-hundred day moving average price of $21.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $647.39 million during the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.Chime Financial’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, equities analysts predict that Chime Financial, Inc. will post 0.3 EPS for the current year.

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.