Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $2,675,016.84 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 80,914 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $33.06, for a total value of $2,675,016.84. Following the completion of the sale, the insider directly owned 380,298 shares of the company’s stock, valued at $12,572,651.88. The trade was a 17.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, August 26th, Global Advisors Ltd Dst sold 1,168,667 shares of Chime Financial stock. The shares were sold at an average price of $33.04, for a total value of $38,612,757.68.
• On Monday, August 24th, Global Advisors Ltd Dst sold 1,775,044 shares of Chime Financial stock. The shares were sold at an average price of $33.09, for a total value 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 value 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 value 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 value of $145,538,087.62.
• On Tuesday, August 18th, Global Advisors Ltd Dst sold 353,812 shares of Chime Financial stock. The shares were 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 transaction 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 transaction 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 transaction of $33,372,019.33.

Chime Financial Price Performance

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

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company earned ($7.29) earnings per share. Analysts forecast that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chime Financial

A number of hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial during the 2nd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised its position in shares of 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 valued at $37,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Chime Financial during the second quarter worth $40,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CHYM. Morgan Stanley increased their price target on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Keefe, Bruyette & Woods lifted their price objective on Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. The Goldman Sachs Group upped their target price on Chime Financial from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group raised 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. Finally, Canaccord Genuity Group raised their price target on shares of Chime Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research 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 given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial has a consensus rating of “Moderate Buy” and an average price target 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.