Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $22,925,108.46 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 713,289 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $32.14, for a total value of $22,925,108.46. Following the completion of the transaction, the insider owned 455,545 shares in the company, valued at $14,641,216.30. The trade was a 61.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, 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 value of $16,883,590.98.
• On Wednesday, August 12th, Global Advisors Ltd Dst sold 2,022 shares of Chime Financial stock. The stock was 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 stock was 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 Stock Performance

NASDAQ:CHYM traded down $0.57 during trading on Monday, reaching $31.45. The company’s stock had a trading volume of 6,105,727 shares, compared to its average volume of 5,151,006. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $33.41. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of -449.22 and a beta of 0.30. The firm has a 50 day moving average of $21.87 and a 200-day moving average of $20.98.

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, 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 company had revenue of $669.77 million for the quarter. During the same period last year, the firm posted ($7.29) earnings per share. Chime Financial’s quarterly revenue was up 26.8% compared to the same quarter last year. Equities research analysts forecast that Chime Financial, Inc. will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chime Financial

Hedge funds have recently made changes to their positions in the stock. Aspect Management LLC bought a new position in Chime Financial in the 4th quarter worth about $300,361,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Chime Financial during the fourth quarter valued at about $129,091,000. Orland Properties Ltd bought a new stake in shares of Chime Financial during the second quarter valued at about $159,093,000. Scge Management L.P. purchased a new stake in shares of Chime Financial in the second quarter worth about $152,563,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after buying an additional 2,658,816 shares in the last quarter.

Wall Street Analyst Weigh In

CHYM has been the topic of a number of research reports. Wolfe Research reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Chime Financial in a report on Thursday, August 6th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Barclays boosted their target price on Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. UBS Group upped their price target on Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley increased their price target on Chime Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chime Financial has an average rating of “Moderate Buy” and a consensus target price of $31.06.

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.