Global Advisors Ltd Dst Sells 3,216,189 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 3,216,189 shares of Chime Financial stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.99, for a total value of $109,318,264.11. Following the completion of the transaction, the insider owned 336,798 shares in the company, valued at $11,447,764.02. This trade represents a 90.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% 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 Friday, September 11th, Global Advisors Ltd Dst sold 207,513 shares of Chime Financial stock. The shares were 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 stock was 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 stock was 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 transaction of $2,675,016.84.
• 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 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.
• On Tuesday, August 18th, Global Advisors Ltd Dst sold 353,812 shares of Chime Financial stock. The shares were 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.

Chime Financial Trading Down 7.0%

NASDAQ CHYM traded down $2.36 during trading hours on Wednesday, hitting $31.25. 8,242,627 shares of the stock were exchanged, compared to its average volume of 7,275,060. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $35.55. The stock has a 50-day moving average of $28.44 and a 200 day moving average of $22.76.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company had revenue of $669.77 million for the quarter. During the same period in the prior year, the firm posted ($7.29) EPS. Chime Financial’s revenue for the quarter was up 26.8% compared to the same quarter last year. Equities research analysts expect that Chime Financial, Inc. will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CHYM. Scotiabank increased their price objective on Chime Financial from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 9th. Morgan Stanley boosted their target price on shares of Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Rothschild & Co Redburn raised shares of Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Monday. Zacks Research upgraded shares of Chime Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Chime Financial from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chime Financial currently has a consensus rating of “Buy” and an average target price of $36.40.

More Chime Financial News

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Analysts remain bullish: Goldman Sachs raised its price target to $37 and maintained a “Buy” rating. B. Riley lifted its target to $44, while Rothschild & Co Redburn upgraded CHYM to “Buy” with a $46 target. These calls indicate continued confidence in Chime’s growth outlook. B. Riley raises Chime price target Rothschild upgrades Chime
• Positive Sentiment: Bank acquisition offers strategic upside: Chime agreed to acquire Central Service Corporation, the parent of Stride Bank, for $590 million in cash. Pending regulatory approvals, the transaction would allow Stride to become Chime Bank, N.A., giving Chime greater control over its banking infrastructure and potentially improving long-term economics. Chime bank acquisition analysis
• Positive Sentiment: Operating momentum remains favorable: Chime’s latest results showed revenue growth of 26.8% year over year, 10.4 million active members and a second consecutive quarter of GAAP profitability. The company also raised its full-year outlook.
• Neutral Sentiment: New York expansion: Chime opened a new office in New York, supporting its corporate and hiring footprint, although the announcement is unlikely to materially change near-term earnings expectations. Chime opens New York office
• Negative Sentiment: Heavy insider selling is a sentiment headwind: General Counsel Adam Frankel sold 102,002 shares for about $3.4 million, and Director James Feuille sold 352,237 shares worth roughly $11.6 million across two transactions. A major shareholder also sold 207,513 shares for approximately $6.9 million. Recent disclosures show numerous insider sales and no reported open-market purchases over the past six months. Some transactions were conducted under pre-arranged Rule 10b5-1 plans, but the volume may still reinforce profit-taking concerns. SEC insider sale filing
• Negative Sentiment: Acquisition risks are being reassessed: Investors are weighing regulatory approval, integration costs and capital requirements associated with the Stride transaction. After the recent run-up, these uncertainties have contributed to increased volatility and pressure on CHYM.

Institutional Trading of Chime Financial

Several large investors have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Chime Financial during the 1st quarter worth approximately $44,000. Leonteq Securities AG acquired a new position in shares of Chime Financial during the 4th quarter worth approximately $93,000. PNC Financial Services Group Inc. lifted its stake in Chime Financial by 835.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock valued at $176,000 after buying an additional 8,390 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Chime Financial in the 1st quarter valued at approximately $189,000. Finally, Affinity Capital Advisors LLC acquired a new stake in Chime Financial during the 2nd quarter valued at $325,000.

About Chime Financial

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.