Global Advisors Ltd Dst Sells 473,694 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 473,694 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $32.71, for a total transaction of $15,494,530.74. Following the sale, the insider directly owned 397,652 shares in the company, valued at approximately $13,007,196.92. This represents a 54.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 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 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 transaction 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 transaction 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 shares were 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 stock was 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 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 shares were sold at an average price of $32.62, for a total value of $58,591,913.52.

Chime Financial Stock Performance

Shares of CHYM opened at $33.10 on Wednesday. The business’s fifty day moving average price is $24.01 and its two-hundred day moving average price is $21.37. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of -472.79 and a beta of 0.31. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $33.74.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $669.77 million during the quarter. During the same quarter in the previous year, the firm earned ($7.29) EPS. The company’s revenue was up 26.8% compared to the same quarter last year. As a group, research analysts forecast that Chime Financial, Inc. will post 0.41 EPS for the current year.

Chime Financial News Roundup

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Wolfe Research raised its price target on Chime Financial (CHYM) from $32 to $38 and reiterated an “outperform” rating, implying additional upside from recent trading levels. Benzinga analyst update
• Positive Sentiment: Wells Fargo increased its target from $33 to $39 and maintained an “overweight” rating. The move reinforces the view that Chime’s growth and improving profitability could support a higher valuation. Benzinga analyst update
• Positive Sentiment: The latest quarterly results provide fundamental support: Chime reported $0.07 in earnings per share versus a projected loss of $0.01, while revenue rose 26.8% year over year to approximately $669.8 million.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. Barclays increased their price objective on shares of Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group raised their price objective on shares of Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Chime Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Institutional Trading of Chime Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Tiger Global Management LLC boosted its stake in 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 acquired a new position in Chime Financial during the fourth quarter valued at approximately $300,361,000. Ashton Thomas Private Wealth LLC bought a new stake in Chime Financial in the fourth quarter valued at approximately $129,091,000. Orland Properties Ltd bought a new stake in Chime Financial in the second quarter valued at approximately $159,093,000. Finally, Scge Management L.P. acquired a new stake in Chime Financial in the second quarter worth $152,563,000.

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.