Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $41,061,310.51 in Stock

Chime Financial, Inc. (NASDAQ:CHYM – Get Free Report) major shareholder Global Advisors Ltd Dst sold 1,319,027 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $31.13, for a total value of $41,061,310.51. Following the completion of the transaction, the insider owned 324,365 shares of the company’s stock, valued at approximately $10,097,482.45. The trade was a 80.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Thursday, November 5th, Global Advisors Ltd Dst sold 10,740 shares of Chime Financial stock. The stock was sold at an average price of $32.10, for a total value of $344,754.00.
  • 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 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 transaction 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 transaction of $38,612,757.68.
  • 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 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 shares were 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 shares were 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

NASDAQ:CHYM opened at $33.08 on Thursday. The firm has a market capitalization of $12.52 billion, a P/E ratio of 174.11 and a beta of 0.74. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $35.55. The company’s fifty day moving average price is $29.94 and its 200-day moving average price is $23.99.

Chime Financial (NASDAQ:CHYM – Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $718.00 million during the quarter. Chime Financial had a net margin of 3.05% and a return on equity of 6.72%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. Equities analysts anticipate that Chime Financial, Inc. will post 0.47 EPS for the current fiscal year.

Institutional Trading of Chime Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. AMS Capital Ltda purchased a new stake in Chime Financial in the 1st quarter worth $3,439,000. Arrowstreet Capital Limited Partnership raised its position in Chime Financial by 2,720.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after acquiring an additional 2,658,816 shares during the period. Arizona State Retirement System purchased a new position in Chime Financial during the second quarter valued at $692,000. Penn Mutual Asset Management purchased a new position in Chime Financial during the third quarter valued at $6,711,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Chime Financial in the fourth quarter valued at about $1,274,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CHYM shares. JPMorgan Chase & Co. boosted their price objective on Chime Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Canaccord Genuity Group raised their target price on Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. 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. Barclays lifted their price target on Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Finally, Morgan Stanley boosted their price target on Chime Financial from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, September 9th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $39.47.

Read Our Latest Report on CHYM

About Chime Financial

(Get Free Report)

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. Chris Britt has served as the company’s chief executive officer.

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