Robeco Institutional Asset Management B.V. Sells 178,421 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Robeco Institutional Asset Management B.V. decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 58.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 128,049 shares of the technology company’s stock after selling 178,421 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in CoStar Group were worth $9,660,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CSGP. Vulcan Value Partners LLC grew its position in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after buying an additional 1,961,917 shares during the period. Janus Henderson Group PLC grew its position in shares of CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Select Equity Group L.P. purchased a new stake in shares of CoStar Group during the 2nd quarter worth approximately $60,761,000. Renaissance Technologies LLC purchased a new position in CoStar Group in the second quarter valued at approximately $46,692,000. Finally, Vanguard Group Inc. lifted its stake in CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $76.30 on Friday. The stock has a market cap of $31.28 billion, a price-to-earnings ratio of 174.28 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $76.07 and a 200 day simple moving average of $78.13. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week 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 the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the business earned $0.25 earnings per share. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC lowered their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Bank of America dropped their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Insider Activity

In related news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, with a total value 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 $94,315,527.66. The trade was a 0.00 % increase in their position. The purchase 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 company’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 completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Company 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.