Eric M. Sprink, CEO of Coastal Financial Corp (NASDAQ:CCB), recently executed a sale of 3,000 shares of common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $59.77 each, totaling $179,310. Following this transaction, Sprink holds 279,388 shares directly. Additionally, he retains indirect ownership of 400 shares each as a custodian for three children. The sale was conducted under a pre-established Rule 10b5-1 trading plan.
InvestingPro Insights
As Eric M. Sprink, CEO of Coastal Financial Corp (NASDAQ:CCB), recently sold shares, it's worth noting that the company's stock has been performing strongly. According to InvestingPro data, CCB has seen a robust 49.75% price total return over the past six months, and is currently trading near its 52-week high at 96.37% of that peak.
Despite this strong performance, InvestingPro Tips highlight that CCB suffers from weak gross profit margins. This could be a factor for investors to consider alongside the recent insider sale. However, the company has been profitable over the last twelve months, with a P/E ratio of 20.77, suggesting that the market still values its earnings potential.
For those seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for CCB, providing a deeper understanding of the company's financial health and market position. These insights could be particularly valuable given the recent executive stock transaction and the company's current market dynamics.
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