Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells 80,914 Shares

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 80,914 shares of Chime Financial stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $33.06, for a total value of $2,675,016.84. Following the completion of the sale, the insider directly owned 380,298 shares of the company’s stock, valued at $12,572,651.88. The trade was a 17.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Global Advisors Ltd Dst also recently made the following trade(s):

• On Monday, August 24th, Global Advisors Ltd Dst sold 1,775,044 shares of Chime Financial stock. The shares were sold at an average price of $33.09, for a total value 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 value of $15,494,530.74.
• On Thursday, August 20th, Global Advisors Ltd Dst sold 383,031 shares of Chime Financial stock. The shares were 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 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 stock was 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 shares were 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 Price Performance

Shares of NASDAQ:CHYM traded up $0.05 during mid-day trading on Wednesday, reaching $33.15. 5,382,972 shares of the company traded hands, compared to its average volume of 5,276,422. The company’s 50 day moving average price is $24.01 and its 200-day moving average price is $21.37. The firm has a market cap of $12.55 billion, a PE ratio of -473.50 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 issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. The business had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. Chime Financial’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($7.29) EPS. On average, research analysts predict that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial during the second quarter valued at $33,000. Scopus Asset Management L.P. bought a new position in Chime Financial during the second quarter valued at $34,000. Caitong International Asset Management Co. Ltd lifted its position in 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 purchasing an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Chime Financial in the 2nd quarter worth $40,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley raised their price target on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Piper Sandler lifted their target price on Chime Financial from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Wolfe Research upped their target price on shares of Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday. B. Riley Financial raised their target price on shares of Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Chime Financial from $26.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Four 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.33.

Chime Financial Company Profile

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.