Global Advisors Ltd Dst Sells 1,039,303 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 1,039,303 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $32.11, for a total transaction of $33,372,019.33. Following the sale, the insider owned 462,233 shares of the company’s stock, valued at $14,842,301.63. This trade represents a 69.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock 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 12th, Global Advisors Ltd Dst sold 2,022 shares of Chime Financial stock. The stock was sold at an average price of $32.01, for a total value of $64,724.22.
• 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 transaction of $58,591,913.52.

Chime Financial Stock Performance

Shares of CHYM traded up $0.58 during trading hours on Thursday, reaching $32.18. 13,099,244 shares of the company traded hands, compared to its average volume of 5,144,711. The stock’s fifty day moving average is $21.30 and its 200 day moving average is $20.90. The stock has a market cap of $12.26 billion, a P/E ratio of -459.65 and a beta of 0.31. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $33.41.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.Chime Financial’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($7.29) EPS. On average, equities research analysts predict that Chime Financial, Inc. will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Chime Financial

Hedge funds have recently bought and sold shares of the company. Tiger Global Management LLC increased its holdings in shares of Chime Financial by 13.8% during the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after acquiring an additional 1,721,731 shares during the last quarter. Aspect Management LLC bought a new position in shares of Chime Financial during the fourth quarter worth approximately $300,361,000. Ashton Thomas Private Wealth LLC acquired a new position in Chime Financial in the 4th quarter valued at $129,091,000. Orland Properties Ltd acquired a new stake in Chime Financial during the second quarter worth about $159,093,000. Finally, Scge Management L.P. bought a new position in Chime Financial in the second quarter valued at approximately $152,563,000.

Analyst Upgrades and Downgrades

CHYM has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Canaccord Genuity Group raised their target price on shares of Chime Financial from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. BMO Capital Markets upped their price objective on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. The Goldman Sachs Group increased their target price on shares of Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, B. Riley Financial lifted their price objective on Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.