Renaissance Capital LLC Invests $822,000 in Chime Financial, Inc. $CHYM

Renaissance Capital LLC purchased a new stake in Chime Financial, Inc. (NASDAQ:CHYM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,742 shares of the company’s stock, valued at approximately $822,000.

A number of other large investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new position in shares of Chime Financial in the second quarter worth $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial during the 2nd quarter worth approximately $34,000. Daiwa Securities Group Inc. bought a new position in Chime Financial in the second quarter valued at approximately $40,000. Osaic Holdings Inc. acquired a new position in Chime Financial during the second quarter valued at approximately $45,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Chime Financial in the 3rd quarter valued at $50,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CHYM shares. UBS Group cut their target price on shares of Chime Financial from $37.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Jefferies Financial Group began coverage on Chime Financial in a research note on Monday, November 3rd. They issued a “hold” rating and a $17.00 price target for the company. The Goldman Sachs Group raised Chime Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $26.00 to $27.00 in a report on Monday, December 1st. JPMorgan Chase & Co. lowered their target price on Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Chime Financial in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Insider Buying and Selling

In related news, Director James Feuille sold 176,168 shares of Chime Financial stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $161,158.40. Following the transaction, the general counsel directly owned 244,416 shares in the company, valued at $5,826,877.44. This represents a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 191,657 shares of company stock worth $5,157,258 in the last 90 days.

Chime Financial Trading Down 1.9%

Shares of CHYM stock opened at $26.33 on Wednesday. Chime Financial, Inc. has a 1-year low of $16.17 and a 1-year high of $44.94. The stock has a market cap of $9.86 billion and a price-to-earnings ratio of -3.54. The stock has a 50-day moving average of $21.69 and a 200-day moving average of $25.36.

Chime Financial (NASDAQ:CHYM) last posted its earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.10. The business had revenue of $543.52 million for the quarter. Chime Financial’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share.

Chime Financial 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.