BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 76,733 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,873,684 shares of the technology company’s stock after selling 76,733 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.46% of CoStar Group worth $141,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CSGP. Vulcan Value Partners LLC lifted its holdings 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 valued at $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after acquiring an additional 1,773,564 shares in the last quarter. Select Equity Group L.P. bought a new stake in CoStar Group during the 2nd quarter worth approximately $60,761,000. Renaissance Technologies LLC acquired a new stake in CoStar Group during the 2nd quarter valued at $46,692,000. Finally, Jupiter Asset Management Ltd. bought a new position in CoStar Group in the 2nd quarter valued at $34,987,000. Institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, 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 cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated 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 sale, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 5.8 %

Shares of CoStar Group stock opened at $76.27 on Thursday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. 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 company has a market capitalization of $31.27 billion, a P/E ratio of 173.34 and a beta of 0.82. The business has a 50-day moving average of $75.49 and a two-hundred day moving average of $77.07.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating 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 firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

CSGP has been the topic of several research analyst reports. Robert W. Baird lowered their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Tuesday. BMO Capital Markets reduced their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.25.

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.