Global Advisors Ltd Dst Sells 1,168,667 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the completion of the transaction, the insider directly owned 369,370 shares in the company, valued at $12,203,984.80. This trade represents a 75.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 stock was 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 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 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 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.
• 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 transaction 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 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.

Chime Financial Price Performance

Shares of NASDAQ CHYM opened at $33.20 on Friday. The company has a 50 day simple moving average of $24.97 and a 200-day simple moving average of $21.62. The company has a market capitalization of $12.57 billion, a P/E ratio of -474.22 and a beta of 0.31. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $34.16.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS 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 firm had revenue of $669.77 million for the quarter. During the same quarter in the prior year, the company posted ($7.29) earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. As a group, research analysts expect that Chime Financial, Inc. will post 0.41 EPS for the current year.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHYM. PNC Financial Services Group Inc. acquired a new position in Chime Financial during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial in the second quarter valued at $33,000. Scopus Asset Management L.P. purchased a new stake in shares of Chime Financial in the 2nd quarter valued at $34,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after buying an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in Chime Financial during the 2nd quarter worth about $40,000.

Analyst Ratings Changes

Several brokerages have recently commented on CHYM. Wolfe Research upped their price target on Chime Financial from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Weiss Ratings downgraded Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. Freedom Capital upgraded shares of Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 25th. Finally, BMO Capital Markets upped their target price on shares of Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research report 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Chime Financial presently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

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.