Global Advisors Ltd Dst Sells 2,022 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 2,022 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total value of $64,724.22. Following the completion of the sale, the insider owned 462,214 shares of the company’s stock, valued at approximately $14,795,470.14. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 Trading Down 0.5%

Shares of CHYM stock opened at $32.02 on Friday. The company’s 50-day moving average price is $21.87 and its 200-day moving average price is $21.02. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of -457.36 and a beta of 0.31. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $33.41.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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 prior year, the company posted ($7.29) EPS. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, equities research analysts predict that Chime Financial, Inc. will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Chime Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in shares of Chime Financial in the 2nd quarter worth approximately $693,000. Legal & General Group Plc acquired a new stake in Chime Financial in the 2nd quarter valued at approximately $136,000. Russell Investments Group Ltd. purchased a new stake in Chime Financial in the second quarter valued at approximately $958,000. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial in the second quarter valued at approximately $33,000. Finally, Marshall Wace LLP acquired a new position in Chime Financial during the second quarter worth $9,087,000.

Wall Street Analysts Forecast Growth

CHYM has been the subject of several analyst reports. Barclays increased their price target on shares of Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Piper Sandler increased their price objective on Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. BMO Capital Markets raised their target price on Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Wolfe Research restated an “outperform” rating and issued a $32.00 target price on shares of Chime Financial in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently 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.