Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $145,538,087.62 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of Chime Financial stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total value of $145,538,087.62. Following the completion of the sale, the insider owned 405,663 shares of the company’s stock, valued at approximately $13,248,953.58. The trade was a 91.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 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.
• On Thursday, August 13th, Global Advisors Ltd Dst sold 713,289 shares of Chime Financial stock. The shares were 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 stock was 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 stock was sold at an average price of $32.11, for a total transaction of $33,372,019.33.
• On Thursday, August 6th, Global Advisors Ltd Dst sold 1,796,196 shares of Chime Financial stock. The shares were sold at an average price of $32.62, for a total transaction of $58,591,913.52.

Chime Financial Stock Performance

Shares of CHYM stock opened at $32.78 on Friday. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $33.74. The stock has a market cap of $12.41 billion, a PE ratio of -468.22 and a beta of 0.31. The firm’s 50 day moving average price is $23.39 and its two-hundred day moving average price is $21.24.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The company had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($7.29) EPS. As a group, sell-side analysts predict that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canaccord Genuity Group increased their target price on Chime Financial from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Piper Sandler upped their target price on shares of Chime Financial from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Barclays lifted their price target on shares of Chime Financial from $26.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.39.

Hedge Funds Weigh In On Chime Financial

A number of large investors have recently added to or reduced their stakes in the company. Comprehensive Financial Management LLC grew its holdings in shares of Chime Financial by 2.4% during the second quarter. Comprehensive Financial Management LLC now owns 565,976 shares of the company’s stock worth $11,591,000 after buying an additional 13,225 shares in the last quarter. Spyglass Capital Management LLC lifted its position in shares of Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock worth $69,760,000 after purchasing an additional 2,109,057 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Chime Financial in the second quarter worth $1,517,000. Ranger Investment Management L.P. acquired a new position in Chime Financial during the second quarter worth $24,344,000. Finally, Bank of New York Mellon Corp acquired a new position in Chime Financial during the second quarter worth $13,453,000.

Trending Headlines about Chime Financial

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

• Positive Sentiment: Zacks Research upgraded Chime Financial from “hold” to “strong buy.” Zacks also highlighted the stock’s recent momentum and improving earnings expectations, reinforcing the bullish case for CHYM. Zacks upgrade
• Positive Sentiment: A Morgan Stanley analyst reportedly expects Chime Financial shares to rise, adding further support from Wall Street to the recent advance. Morgan Stanley outlook
• Positive Sentiment: Chime’s latest quarterly results exceeded expectations, with earnings of $0.07 per share versus the $0.01-per-share loss analysts expected. Revenue increased 26.8% year over year to approximately $669.8 million, signaling improving operating performance.
• Neutral Sentiment: Chief Executive Officer Chris Britt is scheduled to participate in a Goldman Sachs technology conference on September 9. Any updated guidance or commentary could influence investor sentiment, but the event has no immediate financial impact. Goldman Sachs conference announcement
• Negative Sentiment: Major shareholder Global Advisors Ltd. Dst sold 4.46 million CHYM shares for about $145.5 million on August 19, after selling 353,812 shares worth roughly $11.4 million on August 18. The transactions reduced its position by 91.66% and 44.16%, respectively, and could pressure the stock if continued selling increases available supply. SEC insider transaction filing

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.