Global Advisors Ltd Dst Sells 80,914 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 80,914 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $33.06, for a total transaction 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 approximately $12,572,651.88. The trade was a 17.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% 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 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 shares were 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 stock was sold at an average price of $32.21, for a total value 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 value of $16,883,590.98.
• On Thursday, August 13th, Global Advisors Ltd Dst sold 713,289 shares of Chime Financial stock. The shares were 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 stock was sold at an average price of $32.11, for a total value 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 Trading Up 0.6%

NASDAQ:CHYM opened at $33.36 on Friday. The company has a market cap of $12.63 billion, a price-to-earnings ratio of -476.50 and a beta of 0.31. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $33.97. The stock has a fifty day simple moving average of $24.66 and a 200-day simple moving average of $21.54.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($7.29) earnings per share. As a group, equities research analysts predict that Chime Financial, Inc. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. Tiger Global Management LLC boosted its position in Chime Financial by 13.8% during the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock valued at $357,225,000 after purchasing an additional 1,721,731 shares in the last quarter. Aspect Management LLC bought a new position in Chime Financial in the fourth quarter worth about $300,361,000. Orland Properties Ltd bought a new position in Chime Financial in the second quarter worth about $159,093,000. Scge Management L.P. purchased a new stake in shares of Chime Financial during the second quarter valued at about $152,563,000. Finally, Spyglass Capital Management LLC lifted its position in shares of Chime Financial by 162.6% during the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after buying an additional 2,109,057 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler upped their target price on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. BMO Capital Markets boosted their price target on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. UBS Group increased their price objective on Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Freedom Capital upgraded Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Four investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Chime Financial presently 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.