Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $38,612,757.68 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the firm’s stock in a transaction that occurred on 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 owned 369,370 shares in the company, valued at approximately $12,203,984.80. This trade represents a 75.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 value 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 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 shares were 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 shares were 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 value of $11,396,284.52.
• On Friday, August 14th, Global Advisors Ltd Dst sold 524,661 shares of Chime Financial stock. The stock was 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 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 stock was 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 Trading Down 0.5%

Shares of NASDAQ CHYM traded down $0.16 on Friday, reaching $33.20. 5,009,234 shares of the company traded hands, compared to its average volume of 5,267,999. The stock has a market capitalization of $12.57 billion, a PE ratio of -474.22 and a beta of 0.31. Chime Financial, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $34.16. The company has a 50 day moving average of $24.66 and a 200 day moving average of $21.54.

Chime Financial (NASDAQ:CHYM) last released 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. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business had revenue of $669.77 million for the quarter. During the same period in the prior year, the business posted ($7.29) earnings per share. Chime Financial’s revenue was up 26.8% on a year-over-year basis. As a group, research analysts expect that Chime Financial, Inc. will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Chime Financial

Several institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new position in shares of Chime Financial in the 2nd quarter valued at $59,367,000. Comprehensive Financial Management LLC boosted its position in Chime Financial by 2.4% during the 2nd quarter. Comprehensive Financial Management LLC now owns 565,976 shares of the company’s stock worth $11,591,000 after purchasing an additional 13,225 shares during the period. Spyglass Capital Management LLC boosted its position in Chime Financial by 162.6% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock worth $69,760,000 after purchasing an additional 2,109,057 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Chime Financial in the 2nd quarter valued at $1,517,000. Finally, Ranger Investment Management L.P. acquired a new stake in Chime Financial in the 2nd quarter valued at $24,344,000.

Analyst Upgrades and Downgrades

CHYM has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Wells Fargo & Company increased their target price on Chime Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley lifted 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 boosted their price target on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.33.

Chime Financial Company Profile

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.