Chime Financial (NASDAQ:CHYM) Major Shareholder Global Advisors Ltd Dst Sells 10,740 Shares of Company Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 10,740 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $32.10, for a total value of $344,754.00. Following the completion of the sale, the insider directly owned 336,698 shares in the company, valued at approximately $10,808,005.80. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, November 6th, Global Advisors Ltd Dst sold 1,319,027 shares of Chime Financial stock. The stock was sold at an average price of $31.13, for a total value of $41,061,310.51.
• On Monday, September 14th, Global Advisors Ltd Dst sold 3,216,189 shares of Chime Financial stock. The shares were sold at an average price of $33.99, for a total value of $109,318,264.11.
• 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 stock was 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 shares were 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 stock was sold at an average price of $33.02, for a total transaction 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 transaction of $145,538,087.62.

Chime Financial Price Performance

CHYM stock traded up $1.20 during trading on Monday, hitting $32.53. 7,852,250 shares of the stock traded hands, compared to its average volume of 3,494,999. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 129.87 and a beta of 0.74. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $35.55. The firm’s 50 day moving average is $29.92 and its two-hundred day moving average is $23.93.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $718.00 million during the quarter. Chime Financial had a net margin of 3.05% and a return on equity of 6.87%. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share. As a group, analysts anticipate that Chime Financial, Inc. will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Chime Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Spyglass Capital Management LLC lifted its position in shares of Chime Financial by 162.6% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after buying an additional 2,109,057 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Chime Financial by 2,720.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after acquiring an additional 2,658,816 shares during the period. Light Street Capital Management LLC raised its stake in Chime Financial by 5.8% during the 2nd quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock worth $45,037,000 after acquiring an additional 121,474 shares during the period. Lunate Capital Ltd bought a new stake in Chime Financial during the 3rd quarter worth approximately $48,212,000. Finally, Atreides Management LP lifted its holdings in Chime Financial by 7.9% during the first quarter. Atreides Management LP now owns 1,622,734 shares of the company’s stock valued at $30,394,000 after purchasing an additional 118,946 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CHYM. Wells Fargo & Company raised their price target on shares of Chime Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. UBS Group reiterated a “buy” rating on shares of Chime Financial in a research note on Thursday. Zacks Research upgraded shares of Chime Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Finally, Piper Sandler raised their price target on shares of Chime Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, September 9th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.47.

About Chime Financial

Chime Financial operates a digital financial services platform for consumers in the United States. Through its mobile app, the company offers spending and savings accounts, debit cards and tools for managing money. Its products also include credit-building services and features designed to help customers access direct deposits and avoid certain common banking fees.

Founded in 2012 by Chris Britt and Ryan King, Chime is a financial technology company, not a bank. Banking services are provided through partner banks, including The Bancorp Bank, N.A., and Stride Bank, N.A.