Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Coastal Financial Corp shares valued at $237,320 were sold by Sprink Eric M on Oct 22 ’24. At $59.33 per share, Sprink Eric M sold 4,000 shares. The insider’s holdings dropped to 236,388 shares worth approximately $18.26 million following the completion of this transaction.
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Also, Sprink Eric M sold 2,518 shares, netting a total of over 178,174 in proceeds. Following the sale of shares at $70.76 each, the insider now holds 242,388 shares.
Before that, Sprink Eric M had sold 2,000 shares from its account. In a trade valued at $141,900, the CEO traded Coastal Financial Corp shares for $70.95 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $18.57 million.
As published in a research note from Hovde Group on October 29, 2024, Coastal Financial Corp [CCB] has been retained to an Outperform and the price target has been revised to $76. Analysts at Hovde Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late July. As of May 03, 2024, Hovde Group has reiterated its “an Outperform” rating for CCB.
Analyzing CCB Stock Performance
During the last five days, there has been a surge of approximately 3.26%. Over the course of the year, Coastal Financial Corp shares have jumped approximately 73.90%. Shares of the company reached a 52-week high of $79.59 on 11/25/24 and a 52-week low of $35.67 on 03/18/24. A 50-day SMA is recorded $62.45, while a 200-day SMA reached $48.71. Nevertheless, trading volume fell to 50025.0 shares from 79700.0 shares the previous day.
Support And Resistance Levels for Coastal Financial Corp (CCB)
According to the 24-hour chart, there is a support level at 76.56, which, if violated, would cause prices to drop to 75.89. In the upper region, resistance lies at 77.96. The next price resistance is at 78.69. RSI (Relative Strength Index) is 77.45 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.12, which suggests the price will increase in the coming days. Percent R is at 25.15%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
