Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $16,883,590.98 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 524,661 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $32.18, for a total value of $16,883,590.98. Following the completion of the transaction, the insider directly owned 450,640 shares in the company, valued at $14,501,595.20. This represents a 53.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 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 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.
• 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 Trading Down 1.8%

Shares of NASDAQ CHYM traded down $0.57 during trading on Monday, reaching $31.45. 6,105,727 shares of the company traded hands, compared to its average volume of 5,151,006. The firm’s fifty day simple moving average is $21.87 and its 200 day simple moving average is $20.98. The stock has a market cap of $11.91 billion, a P/E ratio of -449.22 and a beta of 0.30. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $33.41.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The business had revenue of $669.77 million during the quarter. During the same period last year, the firm earned ($7.29) EPS. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. As a group, research analysts expect that Chime Financial, Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHYM shares. B. Riley Financial boosted their price target on Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 6th. BMO Capital Markets lifted their target price on shares of Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Freedom Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Morgan Stanley lifted their price objective on shares of Chime Financial from $31.00 to $33.00 and gave the company an “overweight” 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 given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.06.

Institutional Trading of Chime Financial

Several institutional investors have recently bought and sold shares of the business. Tiger Global Management LLC increased its position in shares of Chime Financial by 13.8% in the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock valued at $357,225,000 after buying an additional 1,721,731 shares in the last quarter. Aspect Management LLC purchased a new position in shares of Chime Financial during the 4th quarter valued at approximately $300,361,000. Ashton Thomas Private Wealth LLC acquired a new stake in Chime Financial in the 4th quarter valued at $129,091,000. Orland Properties Ltd acquired a new stake in Chime Financial in the 2nd quarter valued at $159,093,000. Finally, Scge Management L.P. purchased a new stake in Chime Financial in the 2nd quarter worth $152,563,000.

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.