Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 1,168,667 Shares

Key Points

• Global Advisors Ltd Dst sold 1.17 million Chime Financial shares for approximately $38.6 million at an average price of $33.04, reducing its position by 75.98% to 369,370 shares. The sale follows multiple recent transactions involving millions of additional shares.
• Chime shares traded at $33.20, near their 12-month high of $34.16, and have risen sharply above their 50-day and 200-day moving averages. The company recently reported quarterly revenue of $669.77 million, up 26.8% year over year, and EPS of $0.07 versus analysts’ expectations of a loss.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $32.33, although ratings range from “Strong Buy” to “Sell.”

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of Chime Financial stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the completion of the sale, the insider directly owned 369,370 shares in the company, valued at approximately $12,203,984.80. The trade was a 75.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 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 25th, Global Advisors Ltd Dst sold 80,914 shares of Chime Financial stock. The shares were sold at an average price of $33.06, for a total value of $2,675,016.84.
• On Monday, August 24th, Global Advisors Ltd Dst sold 1,775,044 shares of Chime Financial stock. The shares were sold at an average price of $33.09, for a total value of $58,736,205.96.
• On Friday, August 21st, Global Advisors Ltd Dst sold 473,694 shares of Chime Financial stock. The shares were sold at an average price of $32.71, for a total value of $15,494,530.74.
• On Thursday, August 20th, Global Advisors Ltd Dst sold 383,031 shares of Chime Financial stock. The stock was sold at an average price of $33.02, for a total value of $12,647,683.62.
• 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 stock was 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.

Chime Financial Trading Down 0.5%

Shares of CHYM traded down $0.16 during trading hours on Friday, reaching $33.20. The company had a trading volume of 5,009,234 shares, compared to its average volume of 5,267,999. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $34.16. The firm has a 50 day simple moving average of $24.66 and a 200-day simple moving average of $21.54. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of -474.22 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS 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 firm had revenue of $669.77 million for the quarter. During the same period in the prior year, the firm posted ($7.29) EPS. The firm's quarterly revenue was up 26.8% on a year-over-year basis. Sell-side analysts forecast that Chime Financial, Inc. will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AMS Capital Ltda acquired a new position in shares of Chime Financial in the first quarter worth $3,439,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company's stock valued at $51,630,000 after acquiring an additional 2,658,816 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Chime Financial during the fourth quarter valued at $1,274,000. Davis Selected Advisers increased its position in Chime Financial by 3.0% during the 4th quarter. Davis Selected Advisers now owns 2,472,106 shares of the company's stock worth $62,223,000 after purchasing an additional 72,940 shares in the last quarter. Finally, Brown University increased its position in Chime Financial by 99.0% during the 1st quarter. Brown University now owns 204,625 shares of the company's stock worth $3,833,000 after purchasing an additional 101,820 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHYM. Freedom Capital raised Chime Financial to a "strong-buy" rating in a research note on Thursday, July 23rd. Canaccord Genuity Group boosted their target price on Chime Financial from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. The Goldman Sachs Group upped their target price on Chime Financial from $26.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Weiss Ratings cut Chime Financial from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, August 20th. Finally, Zacks Research raised Chime Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 18th. Four 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.33.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source