NorthCrest Asset Manangement LLC Buys 19,156 Shares of Chime Financial, Inc. $CHYM

NorthCrest Asset Manangement LLC purchased a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,156 shares of the company’s stock, valued at approximately $555,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spyglass Capital Management LLC increased its holdings in Chime Financial by 162.6% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock worth $69,760,000 after buying an additional 2,109,057 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in 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 worth $51,630,000 after buying an additional 2,658,816 shares in the last quarter. Light Street Capital Management LLC boosted its holdings in 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 worth $45,037,000 after buying an additional 121,474 shares in the last quarter. Atreides Management LP grew its position in 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 buying an additional 118,946 shares during the period. Finally, Ranger Investment Management L.P. acquired a new stake in Chime Financial during the second quarter valued at $24,344,000.

Insider Transactions at Chime Financial

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the stock in a transaction on Wednesday, August 19th. The shares were 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 $13,248,953.58. This trade represents a 91.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 18,877,790 shares of company stock worth $619,276,441 over the last quarter. Company insiders own 12.30% of the company’s stock.

Chime Financial Stock Performance

Shares of NASDAQ:CHYM traded down $0.29 during midday trading on Friday, reaching $29.67. 3,739,443 shares of the company’s stock traded hands, compared to its average volume of 5,874,586. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $35.55. The company has a market cap of $11.23 billion, a P/E ratio of -423.80 and a beta of 0.83. The company has a fifty day simple moving average of $30.83 and a two-hundred day simple moving average of $23.94.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHYM. The Goldman Sachs Group upped their price objective on shares of Chime Financial from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Loop Capital began coverage on shares of Chime Financial in a research note on Wednesday, September 9th. They set a “buy” rating and a $45.00 target price on the stock. Weiss Ratings upgraded Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd. Keefe, Bruyette & Woods lifted their price target on Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Raymond James Financial set a $35.00 price target on Chime Financial in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chime Financial presently has a consensus rating of “Moderate Buy” and an average price target of $36.38.

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.