Jonathan E. Sand, Executive Vice President and Chief Credit Officer at Coastal Financial Corp (NASDAQ:CCB), recently sold 1,000 shares of the company's common stock. The sale, which took place on November 11, 2024, was executed at a price of $74.15 per share, amounting to a total transaction value of $74,150. Following this sale, Sand holds 19,611 shares, which includes 5,725 time-based restricted stock units under the company's 2018 Omnibus Incentive Plan.
InvestingPro Insights
The recent insider sale by Jonathan E. Sand comes at a time when Coastal Financial Corp (NASDAQ:CCB) is experiencing significant market momentum. According to InvestingPro data, CCB's stock has shown remarkable performance, with a 89.42% total return over the past year and a 54.38% return in the last three months. This strong performance has pushed the stock price to 97.66% of its 52-week high, indicating robust investor confidence.
InvestingPro Tips highlight that CCB is trading near its 52-week high and has demonstrated significant returns across various timeframes. The company's P/E ratio of 23.55 suggests that investors are willing to pay a premium for CCB's earnings, possibly due to its growth prospects. This valuation is supported by the company's revenue growth of 8.86% over the last twelve months and a more impressive 17.89% growth in the most recent quarter.
However, investors should note that CCB suffers from weak gross profit margins, which could be a point of concern for long-term profitability. Additionally, the RSI suggests that the stock may be in overbought territory, which could indicate a potential for a short-term pullback.
For a more comprehensive analysis, InvestingPro offers 13 additional tips for CCB, providing investors with a deeper understanding of the company's financial health and market position.
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