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

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 2,022 shares of Chime Financial stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total value of $64,724.22. Following the completion of the transaction, the insider owned 462,214 shares of the company’s stock, valued at approximately $14,795,470.14. The trade was a 0.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more 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 stock was 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 shares were sold at an average price of $32.62, for a total value of $58,591,913.52.

Chime Financial Stock Performance

Shares of NASDAQ:CHYM opened at $32.02 on Friday. The business has a fifty day moving average of $21.87 and a 200-day moving average of $21.02. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $33.41. The firm has a market cap of $12.12 billion, a PE ratio of -457.36 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping 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 for the quarter. During the same quarter last year, the company earned ($7.29) EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. On average, analysts anticipate that Chime Financial, Inc. will post 0.39 EPS for the current fiscal year.

Institutional Trading of Chime Financial

A number of institutional investors have recently bought and sold shares of the business. Aspect Management LLC acquired a new position in shares of Chime Financial in the 4th quarter valued at $300,361,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chime Financial during the fourth quarter worth $129,091,000. Orland Properties Ltd acquired a new stake in shares of Chime Financial during the second quarter worth $159,093,000. Scge Management L.P. bought a new stake in Chime Financial in the second quarter valued at about $152,563,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after purchasing an additional 2,658,816 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHYM. Morgan Stanley increased their price target 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 boosted their price objective on shares of Chime Financial from $26.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. UBS Group increased their price objective on Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. The Goldman Sachs Group lifted their target price on Chime Financial from $26.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wolfe Research restated an “outperform” rating and set a $32.00 target price on shares of Chime Financial in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.06.

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.