Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 1,168,667 Shares

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the sale, the insider directly owned 369,370 shares in the company, valued at $12,203,984.80. This represents a 75.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, August 25th, Global Advisors Ltd Dst sold 80,914 shares of Chime Financial stock. The shares were sold at an average price of $33.06, for a total transaction of $2,675,016.84.
• On Monday, August 24th, Global Advisors Ltd Dst sold 1,775,044 shares of Chime Financial stock. The stock was sold at an average price of $33.09, for a total transaction of $58,736,205.96.
• On Friday, August 21st, Global Advisors Ltd Dst sold 473,694 shares of Chime Financial stock. The stock was sold at an average price of $32.71, for a total transaction of $15,494,530.74.
• On Thursday, August 20th, Global Advisors Ltd Dst sold 383,031 shares of Chime Financial stock. The stock was sold at an average price of $33.02, for a total transaction of $12,647,683.62.
• On Wednesday, August 19th, Global Advisors Ltd Dst sold 4,456,157 shares of Chime Financial stock. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62.
• On Tuesday, August 18th, Global Advisors Ltd Dst sold 353,812 shares of Chime Financial stock. The stock was sold at an average price of $32.21, for a total transaction of $11,396,284.52.
• 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 transaction of $16,883,590.98.
• On Thursday, August 13th, Global Advisors Ltd Dst sold 713,289 shares of Chime Financial stock. The stock was sold at an average price of $32.14, for a total value of $22,925,108.46.
• 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 shares were sold at an average price of $32.11, for a total value of $33,372,019.33.

Chime Financial Price Performance

Chime Financial stock opened at $33.20 on Friday. The company has a market cap of $12.57 billion, a price-to-earnings ratio of -474.22 and a beta of 0.31. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $34.16. The stock’s 50-day moving average is $24.97 and its 200-day moving average is $21.62.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm 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 company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($7.29) EPS. Research analysts anticipate that Chime Financial, Inc. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Chime Financial

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new stake in shares of Chime Financial during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial during the second quarter worth about $33,000. Scopus Asset Management L.P. acquired a new position in shares of Chime Financial in the second quarter worth about $34,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Chime Financial by 686.0% in the fourth 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 in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $40,000.

Wall Street Analyst Weigh In

CHYM has been the subject of a number of research reports. UBS Group upped their price target on shares of Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Canaccord Genuity Group boosted their price objective on Chime Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Barclays increased their target price on Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Morgan Stanley raised their target price on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Finally, BMO Capital Markets upped their price target on Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

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.