Insider Selling: Coastal Financial Co. (NASDAQ:CCB) EVP Sells $74,150.00 in Stock

Coastal Financial Co. (NASDAQ:CCB) EVP Jonathan E. Sand sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $74.15, for a total value of $74,150.00. Following the transaction, the executive vice president now owns 19,611 shares of the company’s stock, valued at $1,454,155.65. This trade represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Coastal Financial Trading Down 0.5 %

NASDAQ:CCB opened at $73.30 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $74.58. The stock has a 50-day simple moving average of $57.88 and a 200-day simple moving average of $50.63. The stock has a market cap of $992.48 million, a P/E ratio of 24.68 and a beta of 1.22.

Coastal Financial (NASDAQ:CCB) last posted its earnings results on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $185.15 million during the quarter, compared to the consensus estimate of $154.30 million. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. As a group, analysts anticipate that Coastal Financial Co. will post 3.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CCB. Rosenthal Henry Capital Advisors Inc. increased its position in Coastal Financial by 214.0% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company’s stock valued at $1,626,000 after acquiring an additional 20,525 shares during the period. Riverwater Partners LLC lifted its holdings in shares of Coastal Financial by 367.9% during the third quarter. Riverwater Partners LLC now owns 38,670 shares of the company’s stock worth $2,012,000 after purchasing an additional 30,405 shares during the period. Envestnet Asset Management Inc. increased its stake in Coastal Financial by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 58,061 shares of the company’s stock valued at $2,679,000 after buying an additional 1,956 shares during the period. Moss Adams Wealth Advisors LLC purchased a new position in Coastal Financial during the 3rd quarter worth $1,020,000. Finally, American Century Companies Inc. raised its position in Coastal Financial by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock worth $6,515,000 after buying an additional 26,690 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCB. Hovde Group increased their price objective on Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on Coastal Financial from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Raymond James upped their target price on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th.

About Coastal Financial

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.