384,188 Shares in Chime Financial, Inc. $CHYM Purchased by Fred Alger Management LLC

Fred Alger Management LLC acquired a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 384,188 shares of the company’s stock, valued at approximately $7,749,000. Fred Alger Management LLC owned about 0.10% of Chime Financial at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

CHYM has been the subject of several recent research reports. KeyCorp initiated coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 target price for the company. The Goldman Sachs Group lifted their price objective on Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. B. Riley Financial assumed coverage on Chime Financial in a research note on Thursday, December 11th. They issued a “buy” rating and a $35.00 target price on the stock. Rothschild & Co Redburn upgraded Chime Financial to a “hold” rating in a report on Monday, January 26th. Finally, Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.28.

Insider Activity at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 4,382 shares of Chime Financial stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $27.29, for a total value of $119,584.78. Following the transaction, the general counsel owned 209,500 shares of the company’s stock, valued at approximately $5,717,255. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew S. Newcomb sold 10,000 shares of Chime Financial 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 completion of the transaction, the chief financial officer directly owned 2,240,798 shares in the company, valued at approximately $62,764,751.98. The trade was a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 64,882 shares of company stock worth $1,816,685.

Chime Financial Trading Down 1.3%

Shares of Chime Financial stock opened at $20.35 on Tuesday. The company has a market capitalization of $7.82 billion and a PE ratio of -2.69. Chime Financial, Inc. has a 12 month low of $16.17 and a 12 month high of $44.94. The stock’s fifty day simple moving average is $23.41 and its 200 day simple moving average is $22.53.

Chime Financial (NASDAQ:CHYM) last posted its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.The firm had revenue of $596.36 million during the quarter. During the same period in the previous year, the firm posted ($0.30) earnings per share. The firm’s revenue was up 25.5% on a year-over-year basis.

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.