CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 24.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 183,640 shares of the technology company’s stock after selling 59,783 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CoStar Group were worth $13,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in shares of CoStar Group during the 1st quarter worth about $31,000. RiverPark Advisors LLC acquired a new position in shares of CoStar Group during the first quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group in the second quarter valued at approximately $49,000. Covestor Ltd lifted its position in shares of CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after acquiring an additional 211 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of CoStar Group in the second quarter worth approximately $54,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Down 1.4 %

NASDAQ CSGP opened at $73.24 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock has a market capitalization of $30.03 billion, a P/E ratio of 166.46 and a beta of 0.81. The firm’s 50-day moving average is $76.41 and its two-hundred day moving average is $78.57. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 6.57% and a return on equity of 3.53%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Activity

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, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The stock was 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 of the company’s stock, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of research reports. Royal Bank of Canada lowered 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. Robert W. Baird lowered their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $93.25.

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.