Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells $58,736,205.96 in Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 1,775,044 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $33.09, for a total value of $58,736,205.96. Following the transaction, the insider owned 381,054 shares in the company, valued at approximately $12,609,076.86. This trade represents a 82.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 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 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 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 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 stock was 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 stock was 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 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 Stock Performance

Shares of NASDAQ CHYM traded up $0.05 during trading hours on Wednesday, hitting $33.15. 5,382,972 shares of the stock were exchanged, compared to its average volume of 5,276,422. The company’s fifty day simple moving average is $24.01 and its two-hundred day simple moving average is $21.37. The company has a market cap of $12.55 billion, a PE ratio of -473.50 and a beta of 0.31. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $33.74.

Chime Financial (NASDAQ:CHYM) last announced 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 net margin of 0.74% and a negative return on equity of 1.28%. The business had revenue of $669.77 million during the quarter. During the same quarter in the prior year, the firm earned ($7.29) earnings per share. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. As a group, sell-side analysts expect that Chime Financial, Inc. will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings cut Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 20th. Wolfe Research raised their price objective on Chime Financial from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday. BMO Capital Markets lifted their target price on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods boosted their target price on Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group increased their target price on shares of Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Institutional Trading of Chime Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tiger Global Management LLC lifted its stake in shares of Chime Financial by 13.8% in the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock valued at $357,225,000 after acquiring an additional 1,721,731 shares during the last quarter. Aspect Management LLC acquired a new stake in shares of Chime Financial during the 4th quarter valued at $300,361,000. Orland Properties Ltd bought a new stake in Chime Financial during the 2nd quarter worth $159,093,000. Scge Management L.P. bought a new stake in Chime Financial during the 2nd quarter worth $152,563,000. Finally, Spyglass Capital Management LLC increased its holdings in Chime Financial by 162.6% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock worth $69,760,000 after purchasing an additional 2,109,057 shares in the last quarter.

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.