Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 3,216,189 Shares of Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 3,216,189 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.99, for a total value of $109,318,264.11. Following the completion of the transaction, the insider directly owned 336,798 shares in the company, valued at $11,447,764.02. The trade was a 90.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 Friday, September 11th, Global Advisors Ltd Dst sold 207,513 shares of Chime Financial stock. The shares were sold at an average price of $33.07, for a total value of $6,862,454.91.
• On Wednesday, September 9th, Global Advisors Ltd Dst sold 59,630 shares of Chime Financial stock. The shares were sold at an average price of $35.03, for a total value of $2,088,838.90.
• On Wednesday, August 26th, Global Advisors Ltd Dst sold 1,168,667 shares of Chime Financial stock. The shares were sold at an average price of $33.04, for a total value of $38,612,757.68.
• 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 value of $2,675,016.84.
• On Monday, August 24th, Global Advisors Ltd Dst sold 1,775,044 shares of Chime Financial stock. The stock was sold at an average price of $33.09, for a total value of $58,736,205.96.
• 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 shares were 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 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 transaction of $16,883,590.98.

Chime Financial Stock Down 7.0%

Shares of NASDAQ:CHYM opened at $31.25 on Thursday. Chime Financial, Inc. has a 12 month low of $15.88 and a 12 month high of $35.55. The company’s 50-day moving average price is $28.44 and its two-hundred day moving average price is $22.76. The firm has a market cap of $11.83 billion, a P/E ratio of -446.36 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share 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 firm had revenue of $669.77 million during the quarter. During the same quarter in the previous year, the business posted ($7.29) EPS. The company’s revenue was up 26.8% compared to the same quarter last year. As a group, equities analysts predict that Chime Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHYM. AMS Capital Ltda bought a new position in Chime Financial during the first quarter worth about $3,439,000. Arrowstreet Capital Limited Partnership raised its position in shares of Chime Financial by 2,720.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after purchasing an additional 2,658,816 shares during the period. Hsbc Holdings PLC bought a new position in shares of Chime Financial during the 4th quarter valued at about $1,274,000. Brown University grew its position in shares of Chime Financial by 99.0% in the 1st quarter. Brown University now owns 204,625 shares of the company’s stock valued at $3,833,000 after purchasing an additional 101,820 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Chime Financial by 115.0% in the 1st quarter. Bank of America Corp DE now owns 319,579 shares of the company’s stock valued at $5,986,000 after purchasing an additional 170,941 shares during the period.

Key Stories Impacting Chime Financial

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Analysts remain bullish: Goldman Sachs raised its price target to $37 and maintained a “Buy” rating. B. Riley lifted its target to $44, while Rothschild & Co Redburn upgraded CHYM to “Buy” with a $46 target. These calls indicate continued confidence in Chime’s growth outlook. B. Riley raises Chime price target Rothschild upgrades Chime
• Positive Sentiment: Bank acquisition offers strategic upside: Chime agreed to acquire Central Service Corporation, the parent of Stride Bank, for $590 million in cash. Pending regulatory approvals, the transaction would allow Stride to become Chime Bank, N.A., giving Chime greater control over its banking infrastructure and potentially improving long-term economics. Chime bank acquisition analysis
• Positive Sentiment: Operating momentum remains favorable: Chime’s latest results showed revenue growth of 26.8% year over year, 10.4 million active members and a second consecutive quarter of GAAP profitability. The company also raised its full-year outlook.
• Neutral Sentiment: New York expansion: Chime opened a new office in New York, supporting its corporate and hiring footprint, although the announcement is unlikely to materially change near-term earnings expectations. Chime opens New York office
• Negative Sentiment: Heavy insider selling is a sentiment headwind: General Counsel Adam Frankel sold 102,002 shares for about $3.4 million, and Director James Feuille sold 352,237 shares worth roughly $11.6 million across two transactions. A major shareholder also sold 207,513 shares for approximately $6.9 million. Recent disclosures show numerous insider sales and no reported open-market purchases over the past six months. Some transactions were conducted under pre-arranged Rule 10b5-1 plans, but the volume may still reinforce profit-taking concerns. SEC insider sale filing
• Negative Sentiment: Acquisition risks are being reassessed: Investors are weighing regulatory approval, integration costs and capital requirements associated with the Stride transaction. After the recent run-up, these uncertainties have contributed to increased volatility and pressure on CHYM.

Analyst Upgrades and Downgrades

CHYM has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Chime Financial from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 25th. Wolfe Research lifted their target price on Chime Financial from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. UBS Group boosted their target price on Chime Financial from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Finally, Piper Sandler upped their price target on Chime Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $36.40.

About Chime Financial

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.