CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 0.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 89,538 shares of the technology company’s stock after selling 538 shares during the period. Retirement Systems of Alabama’s holdings in CoStar Group were worth $6,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group in the third quarter valued at approximately $40,000. Telemark Asset Management LLC raised its holdings in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after acquiring an additional 150,000 shares during the period. Swedbank AB boosted its position in shares of CoStar Group by 469.3% during the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock valued at $18,712,000 after acquiring an additional 204,474 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after purchasing an additional 14,468 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in CoStar Group by 33.6% in the third quarter. BNP Paribas Financial Markets now owns 1,260,157 shares of the technology company’s stock valued at $95,066,000 after acquiring an additional 317,017 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CSGP. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Citigroup cut their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. One 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 currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling

In other news, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 2.8 %

CSGP stock opened at $73.13 on Wednesday. The stock has a market capitalization of $29.98 billion, a PE ratio of 166.21 and a beta of 0.83. The company has a fifty day moving average of $76.45 and a 200-day moving average of $75.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

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

CoStar Group Profile

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.