Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 1,775,044 Shares of Stock

Key Points

• Global Advisors Ltd Dst sold 1.775 million Chime shares for approximately $58.7 million at an average price of $33.09, reducing its ownership by 82.33% to 381,054 shares.
• Chime shares rose 0.2% to $33.15, near the company’s 52-week high of $33.74. The stock has a market capitalization of about $12.55 billion.
• Chime reported quarterly EPS of $0.07, exceeding estimates for a $0.01 loss, while revenue increased 26.8% year over year to $669.77 million. Analysts maintain a consensus “Moderate Buy” rating with a $32.33 price target.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) major shareholder Global Advisors Ltd Dst sold 1,775,044 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $33.09, for a total transaction of $58,736,205.96. Following the transaction, the insider owned 381,054 shares in the company, valued at approximately $12,609,076.86. The trade was a 82.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares 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 25th, Global Advisors Ltd Dst sold 80,914 shares of Chime Financial stock. The stock was sold at an average price of $33.06, for a total transaction of $2,675,016.84.
• 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 transaction of $15,494,530.74.
• On Thursday, August 20th, Global Advisors Ltd Dst sold 383,031 shares of Chime Financial stock. The shares were sold at an average price of $33.02, for a total transaction 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 transaction 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 transaction 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 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 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 value 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 value 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 Trading Up 0.2%

Shares of CHYM traded up $0.05 during mid-day trading on Wednesday, reaching $33.15. The company's stock had a trading volume of 5,382,972 shares, compared to its average volume of 5,276,422. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $33.74. The business has a 50-day simple moving average of $24.01 and a two-hundred day simple moving average of $21.37. The stock has a market cap of $12.55 billion, a P/E ratio of -473.50 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 during the quarter. During the same period last year, the firm earned ($7.29) earnings per share. The company's revenue for the quarter was up 26.8% compared to the same quarter last year. Research analysts anticipate that Chime Financial, Inc. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Chime Financial

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. acquired a new stake in Chime Financial in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the 2nd quarter worth approximately $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the second quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company's stock worth $37,000 after purchasing an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Chime Financial during the second quarter worth approximately $40,000.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Freedom Capital raised shares of Chime Financial to a "strong-buy" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on Chime Financial from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Piper Sandler upped their target price on Chime Financial from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. B. Riley Financial increased their target price on Chime Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Chime Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.33.

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.

Continue following MarketBeat

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

Add As Preferred Source