Insider Selling: Chime Financial (NASDAQ:CHYM) Major Shareholder Sells 1,796,196 Shares

by · The Markets Daily

Chime Financial, Inc. (NASDAQ:CHYM – Get Free Report) major shareholder Global Advisors Ltd Dst sold 1,796,196 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $32.62, for a total transaction of $58,591,913.52. Following the completion of the transaction, the insider directly owned 471,952 shares in the company, valued at $15,395,074.24. This trade represents a 79.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Chime Financial Trading Up 6.0%

Shares of Chime Financial stock traded up $1.75 on Monday, hitting $30.85. 8,443,004 shares of the company were exchanged, compared to its average volume of 7,993,546. The company has a 50-day moving average price of $20.76 and a 200 day moving average price of $20.83. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $33.41.

Chime Financial (NASDAQ:CHYM – Get Free Report) last posted its quarterly earnings results 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 return on equity of 1.28% and a negative net margin of 0.74%.The firm had revenue of $669.77 million during the quarter. During the same period in the prior year, the business posted ($7.29) EPS. Chime Financial’s revenue for the quarter was up 26.8% compared to the same quarter last year. Analysts predict that Chime Financial, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Chime Financial

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in Chime Financial in the 2nd quarter valued at about $13,453,000. Handelsbanken Fonder AB purchased a new position in Chime Financial in the second quarter worth approximately $1,358,000. Affinity Capital Advisors LLC purchased a new position in Chime Financial in the second quarter worth approximately $325,000. AMS Capital Ltda acquired a new position in Chime Financial during the 1st quarter worth approximately $3,439,000. Finally, NewEdge Advisors LLC increased its position in shares of Chime Financial by 61.8% in the 1st quarter. NewEdge Advisors LLC now owns 28,780 shares of the company’s stock valued at $539,000 after purchasing an additional 10,997 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHYM. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Morgan Stanley raised their price objective on Chime Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group upped their price target on Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays raised their target price on Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a report on Friday. Finally, Texas Capital raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.06.

Get Our Latest Report on Chime Financial

Chime Financial Company Profile

(Get Free Report)

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.

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