Chime Financial (NASDAQ:CHYM) Major Shareholder Sells 4,456,157 Shares of Stock

Key Points

• Global Advisors Ltd Dst sold 4.46 million Chime Financial shares on August 19 at an average price of $32.66, generating approximately $145.5 million. The sale reduced its ownership by 91.66%, leaving it with 405,663 shares.
• Chime shares fell 3.4% to $31.95 during Thursday trading, despite the company reporting quarterly revenue of $669.77 million, up 26.8% year over year, and adjusted earnings of $0.07 per share versus expectations of a loss.
• Analyst sentiment remains broadly positive, with 18 of 22 analysts rating the stock Buy or Strong Buy; the average price target is $31.39, while recent targets range as high as $37.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were 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 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 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 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 transaction of $11,396,284.52.
• On Friday, August 14th, Global Advisors Ltd Dst sold 524,661 shares of Chime Financial stock. The stock was 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 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 shares were sold at an average price of $32.62, for a total value of $58,591,913.52.

Chime Financial Stock Down 3.4%

Shares of NASDAQ CHYM traded down $1.12 during midday trading on Thursday, hitting $31.95. The company had a trading volume of 6,632,814 shares, compared to its average volume of 5,251,140. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of -456.36 and a beta of 0.31. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $33.75. The business has a 50-day simple moving average of $22.78 and a two-hundred day simple moving average of $21.11.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $669.77 million for the quarter. During the same quarter in the previous year, the company posted ($7.29) earnings per share. The company's quarterly revenue was up 26.8% compared to the same quarter last year. On average, equities analysts forecast that Chime Financial, Inc. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Chime Financial

Several hedge funds have recently modified their holdings of CHYM. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial during the second quarter worth approximately $33,000. Scopus Asset Management L.P. purchased a new stake in Chime Financial in the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd raised 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 valued at $37,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Chime Financial in the 2nd quarter valued at $40,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of Chime Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. B. Riley Financial raised their target price on shares of Chime Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, August 6th. The Goldman Sachs Group lifted their target price on shares of Chime Financial from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Freedom Capital upgraded shares of Chime Financial to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the stock 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chime Financial has an average rating of "Moderate Buy" and an average target price of $31.39.

Trending Headlines about Chime Financial

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

• Positive Sentiment: Zacks Research upgraded Chime Financial to “strong buy,” adding to recent bullish sentiment around the stock. Zacks Research upgrade
• Positive Sentiment: Chime has gained 10.03% over the past week, while Zacks cited improving earnings estimates and included CHYM on its Rank #1 “Strong Buy” and momentum-stock lists. These revisions may support continued near-term investor interest. Zacks momentum analysis
• Positive Sentiment: A Morgan Stanley analyst reportedly expects Chime’s stock price to rise, providing additional support for the bullish case. Morgan Stanley analyst outlook
• Neutral Sentiment: CEO and co-founder Chris Britt is scheduled to participate in a Goldman Sachs Communacopia + Technology Conference fireside chat on September 9. The event could provide investors with updated commentary, but it has no immediate financial impact. Chime conference announcement
• Negative Sentiment: Global Advisors Ltd Dst sold 4.46 million CHYM shares for approximately $145.5 million on August 19, after selling another 353,812 shares worth about $11.4 million on August 18. The transactions reduced the shareholder’s position by 91.66% and 44.16%, respectively, creating a significant supply overhang and likely weighing on the stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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