Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 383,031 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 383,031 shares of Chime Financial stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $33.02, for a total value of $12,647,683.62. Following the transaction, the insider directly owned 402,081 shares of the company’s stock, valued at approximately $13,276,714.62. This represents a 48.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 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 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 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.
• 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 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 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 shares were 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 shares were sold at an average price of $32.62, for a total transaction of $58,591,913.52.

Chime Financial Price Performance

NASDAQ:CHYM traded down $0.08 on Monday, reaching $32.70. The stock had a trading volume of 8,290,631 shares, compared to its average volume of 9,854,598. The firm’s fifty day moving average is $23.69 and its two-hundred day moving average is $21.29. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $33.74.

Chime Financial (NASDAQ:CHYM) last issued its quarterly 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 quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($7.29) earnings per share. Research analysts expect that Chime Financial, Inc. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Chime Financial

Hedge funds have recently made changes to their positions in the stock. Aspect Management LLC acquired a new stake in shares of Chime Financial during the 4th quarter worth $300,361,000. Ashton Thomas Private Wealth LLC purchased a new stake in Chime Financial during the fourth quarter valued at about $129,091,000. Orland Properties Ltd purchased a new position in shares of Chime Financial in the 2nd quarter worth about $159,093,000. Scge Management L.P. purchased a new stake in shares of Chime Financial during the 2nd quarter worth about $152,563,000. Finally, California State Teachers Retirement System purchased a new position in Chime Financial in the second quarter valued at approximately $59,367,000.

Analysts Set New Price Targets

Several research firms have commented on CHYM. Weiss Ratings cut shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. BMO Capital Markets increased their price target on Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. The Goldman Sachs Group raised their price objective on Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, B. Riley Financial upped their target price on Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.39.

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.