Pictet Asset Management Holding SA Acquires 146,532 Shares of Chime Financial, Inc. $CHYM

Pictet Asset Management Holding SA raised its holdings in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 58.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 397,240 shares of the company’s stock after buying an additional 146,532 shares during the quarter. Pictet Asset Management Holding SA owned about 0.10% of Chime Financial worth $7,440,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in Chime Financial during the second quarter worth $693,000. Legal & General Group Plc bought a new stake in Chime Financial in the 2nd quarter valued at $136,000. Russell Investments Group Ltd. bought a new stake in Chime Financial in the 2nd quarter valued at $958,000. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial in the 2nd quarter worth $33,000. Finally, Marshall Wace LLP acquired a new stake in Chime Financial in the 2nd quarter worth $9,087,000.

Insider Transactions at Chime Financial

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction dated 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 transaction, the general counsel owned 303,795 shares of the company’s stock, valued at $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Wells Fargo & Company upped their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.65.

Chime Financial Price Performance

Shares of Chime Financial stock opened at $20.87 on Friday. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $38.67. The firm has a market capitalization of $7.95 billion and a PE ratio of -2.81. The company’s fifty day moving average price is $18.70 and its two-hundred day moving average price is $21.45.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $647.39 million during the quarter. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts predict that Chime Financial, Inc. will post 0.3 earnings per share for the current fiscal year.

Chime Financial Company 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.