Global Advisors Ltd Dst Sells 4,456,157 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of Chime Financial stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the sale, the insider directly owned 405,663 shares of the company’s stock, valued at $13,248,953.58. The trade was a 91.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major 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 Tuesday, August 18th, Global Advisors Ltd Dst sold 353,812 shares of Chime Financial stock. The stock was sold at an average price of $32.21, for a total value 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 value 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 value of $22,925,108.46.
• On Wednesday, August 12th, Global Advisors Ltd Dst sold 2,022 shares of Chime Financial stock. The shares were 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 stock was sold at an average price of $32.62, for a total transaction of $58,591,913.52.

Chime Financial Stock Performance

CHYM opened at $32.78 on Friday. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $33.74. The company’s 50 day simple moving average is $23.39 and its 200 day simple moving average is $21.24. The stock has a market capitalization of $12.41 billion, a PE ratio of -468.22 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The firm 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 for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the company posted ($7.29) EPS. As a group, sell-side analysts expect that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Chime Financial News Summary

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

Institutional Trading of Chime Financial

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new stake in shares of Chime Financial during the 2nd quarter valued at about $34,000. PNC Financial Services Group Inc. acquired a new position in Chime Financial during the 4th quarter worth approximately $25,000. Daiwa Securities Group Inc. acquired a new position in Chime Financial during the 2nd quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after acquiring an additional 1,276 shares during the period.

Analysts Set New Price Targets

Several research analysts recently weighed in on CHYM shares. Morgan Stanley increased their target price on Chime Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday. Freedom Capital raised Chime Financial to a “strong-buy” rating in a research report on Thursday, July 23rd. UBS Group upped their price target on Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Canaccord Genuity Group raised their price objective on Chime Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.39.

About Chime Financial

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.