Chime financial director Shawn Carolan sells $19.2m in shares

Shawn T. Carolan, a director at Chime Financial, Inc. (NASDAQ:CHYM), sold a total of 579,313 shares of Class A Common Stock across multiple transactions on September 10 and 11, 2026. The sales amounted to approximately $19.2 million, with weighted average prices for the transactions ranging between $33.0549 and $33.2051 per share. These transactions were executed indirectly through entities where Mr. Carolan is a managing member of the general partner. The sale comes as Chime’s stock trades near its 52-week high of $35.55, having surged 65% over the past six months. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value, trading at a high Price/Book multiple of 9.15. For investors seeking deeper insights into Chime’s valuation and access to exclusive ProTips, InvestingPro offers comprehensive analysis including detailed Pro Research Reports available for over 1,400 US equities.

On September 10, 2026, a total of 302,306 shares were sold at a weighted average price of $33.2051. These sales included 297,318 shares held by Menlo Inflection II, L.P., 3,023 shares by MM Inflection, L.P., and 1,965 shares by Menlo Entrepreneurs Inflection Fund, L.P. The prices for these specific transactions ranged from $33.00 to $33.86.

The following day, September 11, 2026, an additional 277,007 shares were sold at a weighted average price of $33.0549. These sales comprised 272,437 shares from Menlo Inflection II, L.P., 2,770 shares from MM Inflection, L.P., and 1,800 shares from Menlo Entrepreneurs Inflection Fund, L.P. The prices for these transactions ranged from $33.00 to $33.185.

Mr. Carolan disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest in the respective entities.

Following these sales, Mr. Carolan continues to have indirect beneficial ownership in Chime Financial Class A Common Stock through various Menlo entities, including Menlo Ventures XIV, L.P., MMEF XIV, L.P., Menlo Entrepreneurs Fund XIV, L.P., Menlo Inflection I, L.P., and MMSOP, L.P. He also holds shares indirectly through a family trust and directly. Many of these holdings reflect shares received through pro rata distributions in kind from various funds. Mr. Carolan disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest.

In other recent news, Chime Financial has announced its agreement to acquire Stride Bank for $590 million in cash. This acquisition is expected to bring significant synergies, estimated at approximately $100 million, as Chime aims to strengthen its full-stack capabilities. The transaction will make Stride Bank a wholly owned subsidiary under the new name Chime Bank, N.A., once it closes in the first half of 2027, pending regulatory approvals. Following this announcement, several analyst firms have adjusted their price targets for Chime Financial. BMO Capital raised its target to $38 while maintaining an Outperform rating, citing the deal’s potential to enhance Chime’s market positioning. Piper Sandler increased its price target to $40, also maintaining an Overweight rating, highlighting the strategic importance of the acquisition. KeyBanc echoed this sentiment, raising its target to $40 and emphasizing the significance of owning a federally chartered bank. Compass Point and Canaccord further raised their targets to $42 and $50, respectively, both maintaining Buy ratings and recognizing the acquisition as a strategic move.