Chime Financial (NASDAQ:CHYM) Major Shareholder Sells 713,289 Shares

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 713,289 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $32.14, for a total transaction of $22,925,108.46. Following the sale, the insider directly owned 455,545 shares in the company, valued at approximately $14,641,216.30. The trade was a 61.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Global Advisors Ltd Dst also recently made the following trade(s):

• On Friday, August 14th, Global Advisors Ltd Dst sold 524,661 shares of Chime Financial stock. The shares were sold at an average price of $32.18, for a total value of $16,883,590.98.
• On Wednesday, August 12th, Global Advisors Ltd Dst sold 2,022 shares of Chime Financial stock. The shares were sold at an average price of $32.01, for a total value of $64,724.22.
• On Tuesday, August 11th, Global Advisors Ltd Dst sold 1,039,303 shares of Chime Financial stock. The stock was sold at an average price of $32.11, for a total transaction of $33,372,019.33.
• On Thursday, August 6th, Global Advisors Ltd Dst sold 1,796,196 shares of Chime Financial stock. The stock was sold at an average price of $32.62, for a total value of $58,591,913.52.

Chime Financial Stock Down 1.8%

CHYM traded down $0.57 during trading on Monday, hitting $31.45. The company’s stock had a trading volume of 6,105,727 shares, compared to its average volume of 5,151,006. The stock’s fifty day moving average price is $21.87 and its 200-day moving average price is $20.98. The firm has a market capitalization of $11.91 billion, a P/E ratio of -449.22 and a beta of 0.30. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $33.41.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($7.29) earnings per share. Equities research analysts expect that Chime Financial, Inc. will post 0.39 EPS for the current fiscal year.

Institutional Trading of Chime Financial

Several institutional investors and hedge funds have recently modified their holdings of CHYM. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC bought a new position in Chime Financial during the 2nd quarter valued at $33,000. Scopus Asset Management L.P. bought a new position in Chime Financial during the 2nd quarter valued at $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in Chime Financial by 686.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial in the 2nd quarter worth $40,000.

Analysts Set New Price Targets

Several brokerages have recently commented on CHYM. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. The Goldman Sachs Group upped their price target on Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Piper Sandler increased their price target on Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. B. Riley Financial raised their price objective on Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Barclays boosted their price objective on Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.06.

About Chime Financial

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.