Pictet Asset Management Holding SA Has $7.44 Million Stake in Chime Financial, Inc. $CHYM

Pictet Asset Management Holding SA raised its stake in Chime Financial, Inc. (NASDAQ:CHYM) by 58.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 397,240 shares of the company’s stock after acquiring an additional 146,532 shares during the period. Pictet Asset Management Holding SA’s holdings in Chime Financial were worth $7,440,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial in the 2nd quarter worth about $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial during the 2nd quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its position in shares of Chime Financial by 686.0% during the 4th 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. bought a new position in Chime Financial during the 2nd quarter valued at about $40,000.

Chime Financial Price Performance

Chime Financial stock opened at $20.87 on Friday. The stock has a 50-day simple moving average of $18.70 and a 200 day simple moving average of $21.45. The stock has a market capitalization of $7.95 billion and a price-to-earnings ratio of -2.81. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $38.67.

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

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CHYM shares. BMO Capital Markets initiated coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and cut their target price for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Texas Capital raised Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.