Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $12,647,683.62 in Stock

Key Points

• Global Advisors Ltd Dst sold 383,031 Chime Financial shares for approximately $12.65 million at an average price of $33.02, reducing its position by 48.79% to 402,081 shares. The shareholder has made several additional sales in August, including a 4.46 million-share sale worth roughly $145.5 million.
• Chime shares slipped 0.2% to $32.70 but remain near their one-year high of $33.74, with the stock trading well above its 50-day and 200-day moving averages.
• Chime reported quarterly earnings of $0.07 per share, beating estimates by $0.08, while revenue rose 26.8% year over year to $669.77 million. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $31.39.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) major shareholder Global Advisors Ltd Dst sold 383,031 shares of Chime Financial stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $33.02, for a total transaction of $12,647,683.62. Following the completion of the sale, the insider owned 402,081 shares of the company's stock, valued at $13,276,714.62. This trade represents a 48.79% decrease in their position. The transaction 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 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 shares were 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 stock was 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 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 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 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 Trading Down 0.2%

Shares of NASDAQ CHYM traded down $0.08 during midday trading on Monday, hitting $32.70. The company's stock had a trading volume of 8,290,631 shares, compared to its average volume of 9,854,598. The business's fifty day simple moving average is $23.69 and its two-hundred day simple moving average is $21.29. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $33.74.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced 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. The firm had revenue of $669.77 million for 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 previous year, the company earned ($7.29) earnings per share. Equities research analysts anticipate that Chime Financial, Inc. will post 0.41 EPS for the current fiscal year.

Institutional Trading of Chime Financial

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

Analysts Set New Price Targets

Several analysts have recently issued reports on CHYM shares. Freedom Capital upgraded Chime Financial to a "strong-buy" rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price target on Chime Financial from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Zacks Research raised Chime Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 18th. BMO Capital Markets lifted their price objective on Chime Financial from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Finally, B. Riley Financial boosted their price objective on Chime Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.39.

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.

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