Cox Capital Mgt LLC Sells 474 Shares of Coastal Financial Co. (NASDAQ:CCB)

Cox Capital Mgt LLC trimmed its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,709 shares of the company’s stock after selling 474 shares during the quarter. Cox Capital Mgt LLC owned about 0.25% of Coastal Financial worth $1,820,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCB. EntryPoint Capital LLC grew its holdings in Coastal Financial by 642.4% in the first quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock worth $65,000 after purchasing an additional 1,439 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Coastal Financial by 22,360.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock worth $207,000 after buying an additional 4,472 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Coastal Financial in the first quarter valued at about $207,000. SG Americas Securities LLC acquired a new stake in Coastal Financial in the third quarter worth about $324,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Coastal Financial during the second quarter worth about $332,000. 59.24% of the stock is currently owned by institutional investors.

Coastal Financial Stock Performance

Shares of NASDAQ:CCB traded up $2.42 during trading on Friday, hitting $56.67. The stock had a trading volume of 90,365 shares, compared to its average volume of 57,327. The stock has a 50-day simple moving average of $51.09 and a two-hundred day simple moving average of $46.38. The stock has a market capitalization of $762.78 million, a price-to-earnings ratio of 20.61 and a beta of 1.24. Coastal Financial Co. has a 12-month low of $35.67 and a 12-month high of $57.01. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coastal Financial had a net margin of 6.07% and a return on equity of 13.34%. The business had revenue of $167.41 million during the quarter, compared to analysts’ expectations of $168.30 million. On average, equities research analysts expect that Coastal Financial Co. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Coastal Financial

In other Coastal Financial news, Director Steven D. Hovde sold 1,497 shares of Coastal Financial stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $53.00, for a total transaction of $79,341.00. Following the completion of the transaction, the director now owns 26,500 shares in the company, valued at approximately $1,404,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Coastal Financial news, Director Steven D. Hovde sold 1,497 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $53.00, for a total value of $79,341.00. Following the sale, the director now owns 26,500 shares in the company, valued at approximately $1,404,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Eric M. Sprink sold 7,302 shares of Coastal Financial stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.13, for a total transaction of $366,049.26. Following the transaction, the chief executive officer now directly owns 316,912 shares of the company’s stock, valued at approximately $15,886,798.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,631 shares of company stock valued at $2,723,000. 16.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Hovde Group lifted their target price on shares of Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods upgraded shares of Coastal Financial to a “moderate buy” rating in a research note on Tuesday, July 30th.

Coastal Financial Company Profile

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.