Global Advisors Ltd Dst Sells 1,039,303 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) major shareholder Global Advisors Ltd Dst sold 1,039,303 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $32.11, for a total value of $33,372,019.33. Following the completion of the transaction, the insider owned 462,233 shares of the company’s stock, valued at $14,842,301.63. This trade represents a 69.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Global Advisors Ltd Dst also recently made the following trade(s):

• 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 value of $64,724.22.
• 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 Down 0.5%

Shares of NASDAQ:CHYM opened at $32.02 on Friday. Chime Financial, Inc. has a 52-week low of $15.88 and a 52-week high of $33.41. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of -457.36 and a beta of 0.31. The business has a 50-day moving average price of $21.87 and a 200-day moving average price of $21.02.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The firm had revenue of $669.77 million for the quarter. During the same quarter in the prior year, the company earned ($7.29) EPS. Chime Financial’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, equities analysts anticipate that Chime Financial, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CHYM shares. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Wells Fargo & Company increased their price target on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler lifted their price objective on Chime Financial from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Barclays boosted their price objective on Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, B. Riley Financial upped their target price on Chime Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Three 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.06.

Hedge Funds Weigh In On Chime Financial

Hedge funds have recently made changes to their positions in the company. Tiger Global Management LLC raised its holdings in 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 position in shares of Chime Financial in the 4th quarter valued at $300,361,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chime Financial during the 4th quarter worth $129,091,000. Orland Properties Ltd purchased a new position in shares of Chime Financial during the 2nd quarter worth $159,093,000. Finally, Scge Management L.P. acquired a new stake in shares of Chime Financial during the 2nd quarter worth about $152,563,000.

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.