Prelude Capital Management LLC Sells 2,170 Shares of Coastal Financial Co. (NASDAQ:CCB)

Prelude Capital Management LLC decreased its position in Coastal Financial Co. (NASDAQ:CCB – Get Rating) by 16.4% during the third quarter, Holdings Channel reports. The fund owned 11,038 shares of the company’s stock after selling 2,170 shares during the period. Prelude Capital Management LLC’s holdings in Coastal Financial were worth $439,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Coastal Financial by 0.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 678,224 shares of the company’s stock worth $31,029,000 after purchasing an additional 3,336 shares during the period. BlackRock Inc. raised its position in Coastal Financial by 1.4% in the third quarter. BlackRock Inc. now owns 639,387 shares of the company’s stock worth $25,410,000 after acquiring an additional 8,969 shares during the period. Vanguard Group Inc. boosted its stake in shares of Coastal Financial by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 459,351 shares of the company’s stock worth $21,015,000 after acquiring an additional 14,256 shares during the last quarter. State Street Corp grew its position in shares of Coastal Financial by 6.6% during the 2nd quarter. State Street Corp now owns 174,417 shares of the company’s stock valued at $6,649,000 after acquiring an additional 10,868 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Coastal Financial by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 160,899 shares of the company’s stock worth $6,394,000 after purchasing an additional 24,801 shares in the last quarter. 56.39% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Price Performance

NASDAQ CCB opened at $32.73 on Tuesday. The business’s fifty day moving average is $44.97 and its 200 day moving average is $44.88. Coastal Financial Co. has a fifty-two week low of $29.91 and a fifty-two week high of $54.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.03 and a current ratio of 1.05. The company has a market capitalization of $424.18 million, a PE ratio of 10.91 and a beta of 1.10.

Coastal Financial (NASDAQ:CCB – Get Rating) last posted its quarterly earnings data on Friday, January 27th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.81 by $0.15. The firm had revenue of $96.25 million for the quarter, compared to the consensus estimate of $82.60 million. Coastal Financial had a return on equity of 18.63% and a net margin of 12.82%. Sell-side analysts predict that Coastal Financial Co. will post 4.02 earnings per share for the current year.

Insider Buying and Selling at Coastal Financial

In other news, CEO Eric M. Sprink sold 7,192 shares of the firm’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $50.12, for a total transaction of $360,463.04. Following the sale, the chief executive officer now directly owns 316,088 shares in the company, valued at approximately $15,842,330.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coastal Financial news, CEO Eric M. Sprink sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $47.60, for a total value of $142,800.00. Following the completion of the transaction, the chief executive officer now directly owns 305,088 shares in the company, valued at approximately $14,522,188.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric M. Sprink sold 7,192 shares of the stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $50.12, for a total transaction of $360,463.04. Following the sale, the chief executive officer now directly owns 316,088 shares of the company’s stock, valued at $15,842,330.56. The disclosure for this sale can be found here. Insiders have sold 38,331 shares of company stock valued at $1,813,119 over the last 90 days. 19.53% of the stock is currently owned by corporate insiders.

Coastal Financial Company Profile

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Coastal Financial Corp. operates as a bank holding company. The firm through Coastal Community Bank, provides banking products and services to small and medium-sized businesses, professionals, and individuals. It also offers deposit products. It operates through the following segments: community bank and CCBX.