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 company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $32.18, for a total value of $16,883,590.98. Following the sale, the insider owned 450,640 shares of the company’s stock, valued at approximately $14,501,595.20. This represents a 53.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more 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 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 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 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 Stock Performance

CHYM stock 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 business has a 50 day simple moving average of $21.87 and a 200 day simple moving average of $20.98. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $33.41. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of -449.22 and a beta of 0.30.

Chime Financial (NASDAQ:CHYM) last announced its 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 business had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($7.29) earnings per share. As a group, research analysts forecast that Chime Financial, Inc. will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHYM. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial during the second quarter worth $33,000. Scopus Asset Management L.P. purchased a new stake in shares of Chime Financial during the second quarter valued at $34,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after buying an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial in the 2nd quarter valued at $40,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CHYM shares. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price target on Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Morgan Stanley increased their price objective on Chime Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. B. Riley Financial boosted their target price on Chime Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Canaccord Genuity Group increased their price target on Chime Financial from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.