Global Advisors Ltd Dst Sells 1,775,044 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 1,775,044 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $33.09, for a total value of $58,736,205.96. Following the completion of the transaction, the insider owned 381,054 shares in the company, valued at approximately $12,609,076.86. The trade was a 82.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 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 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 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 shares were sold at an average price of $32.11, for a total transaction 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 transaction of $58,591,913.52.

Chime Financial Price Performance

Shares of NASDAQ CHYM opened at $33.36 on Friday. The company has a 50-day moving average price of $24.66 and a 200-day moving average price of $21.54. The stock has a market capitalization of $12.63 billion, a P/E ratio of -476.50 and a beta of 0.31. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $33.97.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on CHYM shares. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings downgraded Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Barclays upped their price target on Chime Financial from $26.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. UBS Group increased their price target on Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded Chime Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Four 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 given a Sell rating to the stock. According to MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Institutional Investors Weigh In On Chime Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in shares of Chime Financial in the 2nd quarter worth approximately $693,000. Legal & General Group Plc bought a new position in shares of Chime Financial in the second quarter valued at approximately $136,000. Russell Investments Group Ltd. purchased a new stake in shares of Chime Financial during the second quarter valued at approximately $958,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial during the second quarter valued at approximately $33,000. Finally, Marshall Wace LLP bought a new stake in Chime Financial during the second quarter worth $9,087,000.

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.