Granahan Investment Management LLC Buys 330,397 Shares of Chime Financial, Inc. $CHYM

Granahan Investment Management LLC grew its stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 285.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 446,152 shares of the company’s stock after purchasing an additional 330,397 shares during the period. Granahan Investment Management LLC’s holdings in Chime Financial were worth $8,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHYM. Renaissance Technologies LLC acquired a new stake in shares of Chime Financial in the 1st quarter valued at about $15,334,000. Arrowstreet Capital Limited Partnership increased its position in Chime Financial by 2,720.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after buying an additional 2,658,816 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Chime Financial by 835.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock valued at $176,000 after buying an additional 8,390 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Chime Financial during the 1st quarter worth approximately $1,852,000. Finally, Fifth Third Bancorp acquired a new position in Chime Financial during the 1st quarter worth approximately $653,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their price objective on Chime Financial from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a report on Monday, May 11th. Finally, Barclays assumed coverage on shares of Chime Financial in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $26.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chime Financial currently has an average rating of “Moderate Buy” and an average target price of $29.19.

Insider Buying and Selling at Chime Financial

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

Chime Financial Price Performance

CHYM opened at $20.69 on Friday. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $36.15. The firm has a market capitalization of $7.88 billion and a PE ratio of -2.78. The company’s 50-day moving average is $19.12 and its 200 day moving average is $20.98.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The business 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%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, analysts expect that Chime Financial, Inc. will post 0.3 EPS for the current year.

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.