CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Ownership Capital B.V.

by · The Markets Daily

Ownership Capital B.V. cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 17.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,443,179 shares of the technology company’s stock after selling 308,585 shares during the quarter. CoStar Group comprises about 3.5% of Ownership Capital B.V.’s investment portfolio, making the stock its 16th biggest holding. Ownership Capital B.V. owned 0.35% of CoStar Group worth $108,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 541,700 shares during the period. Janus Henderson Group PLC raised its holdings 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 worth $453,534,000 after purchasing an additional 124,761 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of CoStar Group by 0.6% in the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after buying an additional 26,800 shares during the last quarter. Finally, Vulcan Value Partners LLC lifted its position in 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 worth $306,831,000 after acquiring an additional 1,961,917 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSGP has been the subject of several research reports. BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods decreased their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Needham & Company LLC lowered their price target on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.25.

Get Our Latest Research Report on CoStar Group

Insider Buying and Selling at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated 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 $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction that occurred 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 owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 1.4 %

CoStar Group stock opened at $77.39 on Friday. The firm has a market capitalization of $31.73 billion, a price-to-earnings ratio of 175.89 and a beta of 0.82. The company’s 50 day simple moving average is $76.06 and its 200 day simple moving average is $78.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its quarterly earnings results 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. 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 last year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

About CoStar Group

(Free Report)

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.

See Also

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