Parallel Advisors LLC Increases Stock Position in Chime Financial, Inc. $CHYM

Parallel Advisors LLC grew its stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 5,239.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 172,480 shares of the company’s stock after buying an additional 169,250 shares during the quarter. Parallel Advisors LLC’s holdings in Chime Financial were worth $4,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new stake in shares of Chime Financial during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial during the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new stake in shares of Chime Financial during the 2nd quarter valued at about $34,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial during the second quarter valued at $40,000. Finally, Osaic Holdings Inc. purchased a new stake in Chime Financial during the second quarter valued at $45,000.

Analysts Set New Price Targets

A number of analysts recently commented on CHYM shares. BMO Capital Markets started coverage on Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price objective for the company. Wells Fargo & Company upped their price objective on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.65.

Chime Financial Trading Down 3.7%

NASDAQ CHYM opened at $17.48 on Friday. Chime Financial, Inc. has a 12 month low of $16.17 and a 12 month high of $44.94. The stock has a market cap of $6.66 billion and a price-to-earnings ratio of -2.35. The company’s 50 day moving average is $19.64 and its two-hundred day moving average is $21.94.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) 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 for the quarter. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Sell-side analysts forecast that Chime Financial, Inc. will post 0.3 EPS for the current year.

Chime Financial Profile

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.