Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $64,724.22 in Stock

Key Points

• Global Advisors Ltd Dst sold 2,022 Chime Financial shares at an average price of $32.01, generating $64,724.22. The sale reduced its direct ownership by 0.44% to 462,214 shares.
• The shareholder also sold more than 2.8 million shares in two earlier August transactions, worth approximately $92 million combined, indicating substantial recent insider selling.
• Chime reported quarterly EPS of $0.07, beating estimates of a $0.01 loss, while revenue rose 26.8% year over year to $669.77 million. Analysts maintain a “Moderate Buy” consensus, with an average price target of $31.06.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) major shareholder Global Advisors Ltd Dst sold 2,022 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $64,724.22. Following the completion of the sale, the insider directly owned 462,214 shares of the company's stock, valued at $14,795,470.14. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 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 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 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 Price Performance

Shares of NASDAQ CHYM traded up $0.58 during midday trading on Thursday, reaching $32.18. The company's stock had a trading volume of 13,099,244 shares, compared to its average volume of 5,144,711. The stock has a market capitalization of $12.26 billion, a P/E ratio of -459.65 and a beta of 0.31. The firm has a 50 day moving average price of $21.30 and a 200-day moving average price of $20.90. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $33.41.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($7.29) earnings per share. On average, equities analysts predict that Chime Financial, Inc. will post 0.37 EPS for the current year.

Institutional Trading of Chime Financial

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of Chime Financial in the second quarter worth approximately $693,000. Legal & General Group Plc bought a new stake in shares of Chime Financial during the 2nd quarter worth $136,000. Russell Investments Group Ltd. purchased a new position in Chime Financial in the second quarter worth $958,000. EverSource Wealth Advisors LLC bought a new position in Chime Financial in the second quarter valued at $33,000. Finally, Marshall Wace LLP purchased a new stake in Chime Financial during the second quarter valued at about $9,087,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHYM. Keefe, Bruyette & Woods increased their target price on shares of Chime Financial from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Morgan Stanley lifted their price objective on shares of Chime Financial from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Barclays increased their target price on Chime Financial from $26.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. The Goldman Sachs Group increased their price objective on Chime Financial from $26.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Chime Financial from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Three 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.06.

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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