Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 10,740 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 10,740 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $32.10, for a total value of $344,754.00. Following the completion of the sale, the insider directly owned 336,698 shares of the company’s stock, valued at approximately $10,808,005.80. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large 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 Friday, November 6th, Global Advisors Ltd Dst sold 1,319,027 shares of Chime Financial stock. The shares were sold at an average price of $31.13, for a total value of $41,061,310.51.
• On Monday, September 14th, Global Advisors Ltd Dst sold 3,216,189 shares of Chime Financial stock. The shares were sold at an average price of $33.99, for a total value of $109,318,264.11.
• On Friday, September 11th, Global Advisors Ltd Dst sold 207,513 shares of Chime Financial stock. The stock was sold at an average price of $33.07, for a total value of $6,862,454.91.
• On Wednesday, September 9th, Global Advisors Ltd Dst sold 59,630 shares of Chime Financial stock. The shares were sold at an average price of $35.03, for a total value of $2,088,838.90.
• On Wednesday, August 26th, Global Advisors Ltd Dst sold 1,168,667 shares of Chime Financial stock. The shares were sold at an average price of $33.04, for a total value of $38,612,757.68.
• 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 transaction 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 transaction 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 transaction 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 transaction of $145,538,087.62.

Chime Financial Price Performance

Shares of CHYM stock opened at $32.53 on Tuesday. The firm has a 50-day moving average of $29.92 and a 200-day moving average of $23.93. The company has a market cap of $12.32 billion, a P/E ratio of 129.87 and a beta of 0.74. Chime Financial, Inc. has a one year low of $15.88 and a one year high of $35.55.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $718.00 million during the quarter. Chime Financial had a return on equity of 6.87% and a net margin of 3.05%. The business’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share. As a group, research analysts expect that Chime Financial, Inc. will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chime Financial

Institutional investors have recently modified their holdings of the company. Spyglass Capital Management LLC grew its holdings in shares of Chime Financial by 162.6% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after purchasing an additional 2,109,057 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after purchasing an additional 2,658,816 shares during the last quarter. Lunate Capital Ltd bought a new stake in Chime Financial in the third quarter worth $48,212,000. Light Street Capital Management LLC boosted its position in Chime Financial by 5.8% during the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock valued at $45,037,000 after buying an additional 121,474 shares during the period. Finally, Atreides Management LP boosted its position in Chime Financial by 7.9% during the first quarter. Atreides Management LP now owns 1,622,734 shares of the company’s stock valued at $30,394,000 after buying an additional 118,946 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CHYM. Zacks Research upgraded shares of Chime Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Morgan Stanley increased their target price on Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Raymond James Financial set a $35.00 target price on Chime Financial in a research report on Thursday, October 8th. UBS Group reaffirmed a “buy” rating on shares of Chime Financial in a report on Thursday. Finally, B. Riley Financial lifted their price target on Chime Financial from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chime Financial has a consensus rating of “Moderate Buy” and an average target price of $39.47.

About Chime Financial

Chime Financial operates a digital financial services platform for consumers in the United States. Through its mobile app, the company offers spending and savings accounts, debit cards and tools for managing money. Its products also include credit-building services and features designed to help customers access direct deposits and avoid certain common banking fees.

Founded in 2012 by Chris Britt and Ryan King, Chime is a financial technology company, not a bank. Banking services are provided through partner banks, including The Bancorp Bank, N.A., and Stride Bank, N.A.