DST Global Advisors Ltd disposed of 856,825 shares of Chime Financial Inc. for approximately $28.1 million in two transactions on August 20 and 21, according to regulatory filings.
The sales occurred at prices between $32.50 and $33.62 per share, with Chime’s stock trading near its 52-week high of $33.74. The disposal follows a 55% rally in the digital bank’s shares over the prior six months, during which Chime’s adjusted EBITDA margin expanded to 15% and full-year guidance was raised.
DST Global, which held a 10% stake in Chime through multiple affiliated funds, retains an indirect holding of roughly 42.5 million Class A common shares. The affiliated entities involved in the sale included DST Global VI, L.P., DST Investments XXI, L.P., and others listed in the filings.
Chime reported a 27% year-over-year increase in revenue for the second quarter, alongside a 20% rise in active members to 10.4 million. Analysts at Wolfe Research and Morgan Stanley recently raised price targets on the stock, citing accelerating user growth and improving profitability in credit products.
Separately, Chime has initiated a request for proposals to integrate stablecoin wallet services into its consumer banking platform. The company also announced the departure of Chief Financial Officer Matthew Newcomb.
