818,700 Shares in Chime Financial, Inc. $CHYM Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 818,700 shares of the company’s stock, valued at approximately $15,334,000.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Texas Capital raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a report on Friday. Freedom Capital raised Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and reduced their price target for the company from $33.00 to $27.00 in a report on Monday, April 13th. Finally, Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chime Financial has a consensus rating of “Buy” and an average price target of $29.19.

Chime Financial Stock Up 1.7%

NASDAQ:CHYM opened at $22.99 on Friday. The company’s 50 day moving average price is $19.60 and its 200-day moving average price is $20.81. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $35.34. The stock has a market cap of $8.76 billion and a price-to-earnings ratio of -3.09.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results 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. The company had revenue of $647.39 million during the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. Chime Financial’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction on Monday, June 15th. The stock was 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 approximately $5,316,412.50. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.30% of the company’s stock.

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.