96,215 Shares in Coastal Financial Co. (NASDAQ:CCB) Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC acquired a new stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 96,215 shares of the company's stock, valued at approximately $8,170,000. Driehaus Capital Management LLC owned 0.71% of Coastal Financial at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CCB. Tower Research Capital LLC TRC raised its holdings in Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock worth $61,000 after purchasing an additional 461 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Coastal Financial during the fourth quarter worth $64,000. New York State Teachers Retirement System acquired a new stake in shares of Coastal Financial during the fourth quarter worth $87,000. USA Financial Formulas acquired a new stake in shares of Coastal Financial during the fourth quarter worth $122,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Coastal Financial during the fourth quarter worth $178,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Trading Up 1.9%

NASDAQ CCB traded up $1.66 on Thursday, reaching $88.69. The company had a trading volume of 29,679 shares, compared to its average volume of 93,703. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 27.31 and a beta of 0.94. Coastal Financial Co. has a fifty-two week low of $42.64 and a fifty-two week high of $102.25. The business has a 50 day moving average of $84.28 and a two-hundred day moving average of $82.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.30). The firm had revenue of $139.54 million for the quarter, compared to the consensus estimate of $158.65 million. Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. Analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current year.

Insider Transactions at Coastal Financial

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $79.07, for a total value of $126,512.00. Following the completion of the sale, the director now owns 14,006 shares in the company, valued at approximately $1,107,454.42. This trade represents a 10.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James dropped their price objective on shares of Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 30th. Stephens reaffirmed an "overweight" rating and issued a $100.00 target price on shares of Coastal Financial in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods reduced their price target on Coastal Financial from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Hovde Group reduced their price target on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th.

Coastal Financial 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.