Krilogy Financial LLC Makes New $565,000 Investment in Chime Financial, Inc. $CHYM

Krilogy Financial LLC acquired a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the third quarter, HoldingsChannel.com reports. The firm acquired 21,207 shares of the company’s stock, valued at approximately $565,000.

Other large investors have also recently added to or reduced their stakes in the company. Spyglass Capital Management LLC lifted its stake in Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after buying an additional 2,109,057 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Chime Financial by 2,720.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after acquiring an additional 2,658,816 shares during the period. Light Street Capital Management LLC boosted its holdings in shares of Chime Financial by 5.8% during the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock valued at $45,037,000 after acquiring an additional 121,474 shares during the period. Atreides Management LP boosted its holdings in shares of Chime Financial by 7.9% during the first quarter. Atreides Management LP now owns 1,622,734 shares of the company’s stock valued at $30,394,000 after acquiring an additional 118,946 shares during the period. Finally, Ranger Investment Management L.P. bought a new position in shares of Chime Financial during the second quarter worth about $24,344,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CHYM. Canaccord Genuity Group increased their price objective on shares of Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Scotiabank boosted their target price on shares of Chime Financial from $40.00 to $42.00 and gave the company a “sector outperform” rating in a research note on Wednesday, September 9th. Barclays upped their target price on shares of Chime Financial from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chime Financial currently has a consensus rating of “Moderate Buy” and an average target price of $36.38.

Insider Activity at Chime Financial

In other news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the transaction, the insider directly owned 405,663 shares of the company’s stock, valued at approximately $13,248,953.58. This trade represents a 91.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 18,877,790 shares of company stock worth $619,276,441 over the last quarter. 12.30% of the stock is currently owned by company insiders.

Chime Financial Price Performance

Shares of Chime Financial stock opened at $29.67 on Friday. The business’s fifty day moving average price is $30.83 and its two-hundred day moving average price is $23.94. The company has a market capitalization of $11.23 billion, a P/E ratio of -423.80 and a beta of 0.83. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $35.55.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%. The company had revenue of $669.77 million during the quarter. During the same quarter last year, the firm posted ($7.29) EPS. The company’s revenue was up 26.8% compared to the same quarter last year. On average, research analysts expect that Chime Financial, Inc. will post 0.45 earnings per share for the current fiscal year.

About Chime Financial

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company’s product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.