Janus Henderson Group PLC Sells 357 Shares of Coastal Financial Co. (NASDAQ:CCB)

Janus Henderson Group PLC trimmed its holdings in Coastal Financial Co. (NASDAQ:CCB) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,411 shares of the company’s stock after selling 357 shares during the period. Janus Henderson Group PLC owned 0.08% of Coastal Financial worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CCB. PDT Partners LLC bought a new position in Coastal Financial during the 3rd quarter worth $650,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Coastal Financial by 190.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,081 shares of the company’s stock worth $166,000 after purchasing an additional 2,019 shares during the period. BNP Paribas Financial Markets lifted its position in Coastal Financial by 474.0% during the third quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company’s stock worth $1,352,000 after purchasing an additional 20,685 shares during the period. FMR LLC grew its stake in Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after buying an additional 228 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Coastal Financial during the third quarter worth about $119,000. 59.24% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jonathan E. Sand sold 1,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $74.15, for a total transaction of $74,150.00. Following the completion of the transaction, the executive vice president now directly owns 19,611 shares of the company’s stock, valued at $1,454,155.65. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric M. Sprink sold 7,000 shares of Coastal Financial stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $52.02, for a total value of $364,140.00. Following the transaction, the chief executive officer now directly owns 302,689 shares in the company, valued at $15,745,881.78. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,619 shares of company stock valued at $3,792,980. 16.82% of the stock is currently owned by corporate insiders.

Coastal Financial Price Performance

Shares of NASDAQ:CCB opened at $83.02 on Friday. Coastal Financial Co. has a one year low of $35.67 and a one year high of $83.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 27.95 and a beta of 1.24. The firm has a 50 day simple moving average of $68.41 and a 200 day simple moving average of $55.60.

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

Analysts Set New Price Targets

Several research firms recently issued reports on CCB. Raymond James increased their price target on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Hovde Group raised their target price on Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday.

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.