SkyBridge Capital II LLC Takes $49.77 Million Position in Chime Financial, Inc. $CHYM

SkyBridge Capital II LLC bought a new stake in Chime Financial, Inc. (NASDAQ:CHYM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,442,210 shares of the company’s stock, valued at approximately $49,771,000. Chime Financial accounts for about 69.5% of SkyBridge Capital II LLC’s portfolio, making the stock its biggest position. SkyBridge Capital II LLC owned about 0.40% of Chime Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHYM. Alliancebernstein L.P. purchased a new position in Chime Financial in the 2nd quarter worth about $40,780,000. Mark Asset Management LP bought a new position in Chime Financial in the second quarter worth about $7,991,000. NewEdge Advisors LLC purchased a new stake in Chime Financial during the second quarter valued at approximately $211,000. Broad Bay Capital Management LP acquired a new stake in shares of Chime Financial in the 2nd quarter worth $9,671,000. Finally, Dragoneer Investment Group LLC acquired a new stake in Chime Financial in the second quarter worth about $295,022,000.

Chime Financial Price Performance

Shares of CHYM opened at $27.49 on Friday. Chime Financial, Inc. has a 52-week low of $16.17 and a 52-week high of $44.94. The business has a fifty day moving average of $20.04.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million for the quarter. During the same quarter last year, the firm posted ($0.34) earnings per share. The company’s revenue was up 28.8% on a year-over-year basis.

Analysts Set New Price Targets

Several research firms have recently commented on CHYM. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a research note on Thursday, October 30th. B. Riley initiated coverage on Chime Financial in a research report on Thursday. They issued a “buy” rating and a $35.00 price objective on the stock. Keefe, Bruyette & Woods dropped their target price on Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Jefferies Financial Group assumed coverage on shares of Chime Financial in a report on Monday, November 3rd. They issued a “hold” rating and a $17.00 price target for the company. Finally, William Blair reiterated an “outperform” rating on shares of Chime Financial in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 1,000 shares of Chime Financial stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $25.50, for a total value of $25,500.00. Following the sale, the general counsel owned 252,416 shares in the company, valued at $6,436,608. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Chime Financial Company Profile

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.