Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $33,372,019.33 in Stock

Key Points

• Major shareholder Global Advisors Ltd Dst sold 1.04 million Chime shares for approximately $33.4 million at an average price of $32.11, reducing its ownership by 69.22% to 462,233 shares.
• Chime’s stock rose 1.8% to $32.18, near its 52-week high of $33.41. The company reported quarterly revenue of $669.77 million, up 26.8% year over year, and earnings of $0.07 per share, exceeding analyst expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and price target of $31.06; recent targets range as high as $35, while several institutional investors established new positions.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) major shareholder Global Advisors Ltd Dst sold 1,039,303 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $32.11, for a total value of $33,372,019.33. Following the completion of the sale, the insider directly owned 462,233 shares of the company's stock, valued at $14,842,301.63. The trade was a 69.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 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 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 Up 1.8%

CHYM stock traded up $0.58 during trading on Thursday, hitting $32.18. The company had a trading volume of 13,099,244 shares, compared to its average volume of 5,144,711. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $33.41. The firm has a 50-day moving average price of $21.30 and a 200-day moving average price of $20.90. The firm has a market cap of $12.26 billion, a PE ratio of -459.65 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM - Get Free Report) last posted 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 business had revenue of $669.77 million for the quarter. During the same period last year, the company earned ($7.29) earnings per share. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. Sell-side analysts anticipate that Chime Financial, Inc. will post 0.37 earnings per share for the current year.

Institutional Trading of Chime Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ranger Investment Management L.P. acquired a new position in shares of Chime Financial in the 2nd quarter valued at $24,344,000. Bank of New York Mellon Corp acquired a new stake in shares of Chime Financial during the 2nd quarter valued at $13,453,000. Handelsbanken Fonder AB purchased a new position in Chime Financial in the second quarter valued at about $1,358,000. Affinity Capital Advisors LLC bought a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $325,000. Finally, AMS Capital Ltda acquired a new position in shares of Chime Financial during the 1st quarter worth $3,439,000.

Analysts Set New Price Targets

CHYM has been the subject of several analyst reports. 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 report on Thursday, August 6th. UBS Group increased their target price on Chime Financial from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. The Goldman Sachs Group lifted their price target on Chime Financial from $26.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Freedom Capital upgraded shares of Chime Financial to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on Chime Financial from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.06.

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.

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