Parallel Advisors LLC Sells 37,500 Shares of Chime Financial, Inc. $CHYM

Parallel Advisors LLC reduced its holdings in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 21.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,980 shares of the company’s stock after selling 37,500 shares during the period. Parallel Advisors LLC’s holdings in Chime Financial were worth $2,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in Chime Financial during the first quarter worth about $653,000. Brown University grew its stake in shares of Chime Financial by 99.0% in the 1st quarter. Brown University now owns 204,625 shares of the company’s stock valued at $3,833,000 after purchasing an additional 101,820 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Chime Financial in the 1st quarter valued at approximately $3,049,000. Pictet Asset Management Holding SA raised its holdings in shares of Chime Financial by 58.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 397,240 shares of the company’s stock worth $7,440,000 after buying an additional 146,532 shares in the last quarter. Finally, Cannon Global Investment Management LLC acquired a new position in shares of Chime Financial in the 1st quarter worth approximately $581,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BMO Capital Markets assumed coverage on 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 lifted their price objective on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Barclays began coverage on shares of Chime Financial in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $26.00 target price on the stock. Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Wall Street Zen downgraded shares of Chime Financial from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Five equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chime Financial presently has a consensus rating of “Buy” and a consensus price target of $29.31.

Insider Activity at Chime Financial

In related 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 shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the sale, the general counsel owned 303,795 shares of the company’s stock, valued at $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.30% of the stock is owned by company insiders.

Chime Financial Stock Up 1.8%

Shares of NASDAQ CHYM opened at $22.33 on Wednesday. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $38.67. The firm’s 50-day simple moving average is $18.91 and its 200 day simple moving average is $21.05. The company has a market cap of $8.51 billion and a price-to-earnings ratio of -3.01.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data 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. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The firm had revenue of $647.39 million during the quarter. The business’s revenue was up 24.8% on a year-over-year basis. On average, equities analysts expect that Chime Financial, Inc. will post 0.3 earnings per share 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.