Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells 3,216,189 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 3,216,189 shares of Chime Financial stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.99, for a total value of $109,318,264.11. Following the transaction, the insider owned 336,798 shares in the company, valued at approximately $11,447,764.02. This represents a 90.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 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 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 shares were 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 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 stock was 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 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 stock was 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 shares were sold at an average price of $32.18, for a total transaction of $16,883,590.98.

Chime Financial Price Performance

Shares of Chime Financial stock traded down $2.36 on Wednesday, reaching $31.25. The company had a trading volume of 8,242,627 shares, compared to its average volume of 7,275,060. The firm’s 50 day moving average price is $28.44 and its two-hundred day moving average price is $22.76. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $35.55.

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

Institutional Investors Weigh In On Chime Financial

Several institutional investors have recently modified their holdings of CHYM. SG Americas Securities LLC grew its position in shares of Chime Financial by 6.5% during the first quarter. SG Americas Securities LLC now owns 32,954 shares of the company’s stock worth $617,000 after acquiring an additional 2,002 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Chime Financial in the 1st quarter valued at $44,000. Leonteq Securities AG acquired a new stake in Chime Financial during the 4th quarter worth $93,000. PNC Financial Services Group Inc. boosted its stake in Chime Financial by 835.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock worth $176,000 after purchasing an additional 8,390 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in Chime Financial during the 1st quarter worth $189,000.

Key Stories Impacting Chime Financial

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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Chime Financial from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. B. Riley Financial upped their target price on shares of Chime Financial from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. KeyCorp raised their price target on shares of Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Loop Capital began coverage on shares of Chime Financial in a research note on Wednesday, September 9th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Rothschild & Co Redburn raised Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chime Financial currently has an average rating of “Buy” and a consensus price target of $36.40.

Chime Financial Company Profile

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.