Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $15,494,530.74 in Stock

Key Points

• Global Advisors Ltd Dst sold 473,694 Chime Financial shares for approximately $15.5 million at an average price of $32.71, reducing its position by 54.36% to 397,652 shares. The shareholder has also conducted several large sales in August.
• Chime shares slipped 0.2% to $32.70 but remain near their 52-week high of $33.74. The company recently reported quarterly EPS of $0.07, beating estimates, while revenue rose 26.8% year over year to $669.77 million.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and recent price-target increases ranging from $33 to $39, despite the average target of $31.39 being below the current share price.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) major shareholder Global Advisors Ltd Dst sold 473,694 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $32.71, for a total value of $15,494,530.74. Following the completion of the sale, the insider owned 397,652 shares in the company, valued at $13,007,196.92. The trade was a 54.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Global Advisors Ltd Dst also recently made the following trade(s):

• 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 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 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 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 shares were 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 stock was sold at an average price of $32.62, for a total value of $58,591,913.52.

Chime Financial Stock Down 0.2%

Shares of CHYM stock traded down $0.08 during mid-day 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. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $33.74. The business has a 50-day moving average price of $23.69 and a 200 day moving average price of $21.29.

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, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company had revenue of $669.77 million for the quarter. During the same period last year, the business earned ($7.29) earnings per share. The company's quarterly revenue was up 26.8% on a year-over-year basis. Equities analysts forecast that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. B. Riley Financial increased their price objective on shares of Chime Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Barclays boosted their target price on shares of Chime Financial from $26.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Keefe, Bruyette & Woods increased their price target on Chime Financial from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Wall Street Zen upgraded Chime Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Finally, Morgan Stanley lifted their price objective on Chime Financial from $33.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, August 18th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.39.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new position in shares of Chime Financial in the second quarter worth approximately $33,000. Scopus Asset Management L.P. purchased a new position in shares of Chime Financial during the 2nd quarter valued at $34,000. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial during the 4th quarter valued at $25,000. Daiwa Securities Group Inc. bought a new position in Chime Financial in the 2nd quarter worth $40,000. Finally, Osaic Holdings Inc. bought a new position in Chime Financial in the 2nd quarter worth $45,000.

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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