Atria Investments Inc Decreases Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Atria Investments Inc trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,981 shares of the technology company’s stock after selling 2,090 shares during the quarter. Atria Investments Inc’s holdings in CoStar Group were worth $2,337,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in CoStar Group by 0.8% during 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 buying an additional 541,700 shares during the period. Janus Henderson Group PLC grew its position in CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after buying an additional 1,773,564 shares during the period. Bank of New York Mellon Corp grew its position in CoStar Group by 2.1% during the second 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 buying an additional 124,761 shares during the period. 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. Finally, Capital Research Global Investors grew its position in CoStar Group by 9.9% during the first quarter. Capital Research Global Investors now owns 2,652,774 shares of the technology company’s stock valued at $256,258,000 after buying an additional 238,461 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insider Activity at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the 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 sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following 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 trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on CSGP shares. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Citigroup dropped their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Bank of America dropped their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Price Performance

CoStar Group stock opened at $75.04 on Friday. The company has a market cap of $30.76 billion, a price-to-earnings ratio of 172.21 and a beta of 0.82. The firm’s fifty day moving average is $75.99 and its 200 day moving average is $77.68. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal 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.