Orion Portfolio Solutions LLC Sells 3,860 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Orion Portfolio Solutions LLC lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,137 shares of the technology company’s stock after selling 3,860 shares during the period. Orion Portfolio Solutions LLC’s holdings in CoStar Group were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after acquiring an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC boosted its holdings in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in CoStar Group by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after acquiring an additional 76,916 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock worth $174,861,000 after purchasing an additional 341,046 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Down 4.1 %

CSGP opened at $75.07 on Friday. The company has a market cap of $30.78 billion, a P/E ratio of 170.62 and a beta of 0.83. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $76.45 and its 200-day moving average price is $76.03.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period last year, the business earned $0.25 EPS. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup cut their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.