Pictet Asset Management Holding SA Increases Stock Position in Chime Financial, Inc. $CHYM

Pictet Asset Management Holding SA boosted its stake in Chime Financial, Inc. (NASDAQ:CHYM – Free Report) by 24.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,708 shares of the company’s stock after purchasing an additional 48,920 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chime Financial were worth $6,310,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. lifted its stake in Chime Financial by 11.1% in the 3rd quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock worth $17,421,000 after purchasing an additional 86,593 shares in the last quarter. Lunate Capital Ltd purchased a new stake in Chime Financial in the 3rd quarter worth $36,503,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Chime Financial in the 3rd quarter worth $4,026,000. Davis Selected Advisers purchased a new stake in Chime Financial in the 3rd quarter worth $48,391,000. Finally, Farther Finance Advisors LLC lifted its stake in Chime Financial by 2,794.6% in the 4th quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock worth $1,821,000 after purchasing an additional 69,866 shares in the last quarter.

Chime Financial Price Performance

Chime Financial stock opened at $22.24 on Monday. The company has a market cap of $8.54 billion and a PE ratio of -2.94. Chime Financial, Inc. has a twelve month low of $16.17 and a twelve month high of $44.94. The company’s 50-day moving average price is $20.98 and its 200-day moving average price is $22.03.

Chime Financial (NASDAQ:CHYM – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.08. The company had revenue of $596.36 million for the quarter. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) earnings per share. As a group, sell-side analysts expect that Chime Financial, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHYM has been the topic of several research analyst reports. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Wells Fargo & Company initiated coverage on shares of Chime Financial in a research note on Monday, April 13th. They issued an “overweight” rating and a $25.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, UBS Group boosted their price target on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Four equities research 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 assigned a Sell rating to the company. According to MarketBeat, Chime Financial has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Read Our Latest Analysis on CHYM

Chime Financial Company Profile

(Free Report)

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.

Further Reading

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