Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 383,031 Shares

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 383,031 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $33.02, for a total value of $12,647,683.62. Following the transaction, the insider directly owned 402,081 shares of the company’s stock, valued at approximately $13,276,714.62. This represents a 48.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 21st, Global Advisors Ltd Dst sold 473,694 shares of Chime Financial stock. The stock was sold at an average price of $32.71, for a total value of $15,494,530.74.
• 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 value 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 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 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 stock was sold at an average price of $32.62, for a total transaction of $58,591,913.52.

Chime Financial Stock Performance

NASDAQ:CHYM opened at $32.70 on Tuesday. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $33.74. The firm’s fifty day moving average is $23.69 and its 200-day moving average is $21.29. The firm has a market cap of $12.38 billion, a P/E ratio of -467.08 and a beta of 0.30.

Chime Financial (NASDAQ:CHYM) last announced its 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. The business 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%. Chime Financial’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business earned ($7.29) EPS. As a group, sell-side analysts anticipate that Chime Financial, Inc. will post 0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CHYM shares. Zacks Research raised Chime Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Weiss Ratings downgraded Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. BMO Capital Markets boosted their price target on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wolfe Research reissued an “outperform” rating and issued a $32.00 price target on shares of Chime Financial in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Four 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 given a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial presently has an average rating of “Moderate Buy” and a consensus target price of $31.39.

Institutional Investors Weigh In On Chime Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tiger Global Management LLC raised its position in shares of Chime Financial by 13.8% during the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after purchasing an additional 1,721,731 shares during the period. Aspect Management LLC acquired a new stake in Chime Financial in the 4th quarter valued at $300,361,000. Ashton Thomas Private Wealth LLC acquired a new stake in Chime Financial in the 4th quarter valued at $129,091,000. Orland Properties Ltd bought a new stake in Chime Financial during the 2nd quarter valued at $159,093,000. Finally, Scge Management L.P. bought a new stake in Chime Financial during the 2nd quarter valued at $152,563,000.

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.