CoStar Group, Inc. (NASDAQ:CSGP) Stake Lowered by Eagle Asset Management Inc.

Eagle Asset Management Inc. trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 54.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,398 shares of the technology company’s stock after selling 657,825 shares during the period. Eagle Asset Management Inc. owned about 0.14% of CoStar Group worth $43,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CSGP. Charles Schwab Investment Management Inc. lifted its stake in CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after acquiring an additional 76,916 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after purchasing an additional 161 shares during the last quarter. EagleClaw Capital Managment LLC boosted its holdings in CoStar Group by 10.6% in the third quarter. EagleClaw Capital Managment LLC now owns 15,600 shares of the technology company’s stock worth $1,177,000 after purchasing an additional 1,500 shares in the last quarter. Bellwether Advisors LLC acquired a new position in CoStar Group during the third quarter worth $554,000. Finally, First Horizon Advisors Inc. raised its holdings in CoStar Group by 11.3% during the third quarter. First Horizon Advisors Inc. now owns 4,449 shares of the technology company’s stock valued at $336,000 after buying an additional 453 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Up 3.6 %

CSGP stock opened at $79.81 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a market cap of $32.72 billion, a P/E ratio of 181.39 and a beta of 0.82. The business’s 50 day moving average is $75.49 and its 200-day moving average is $76.99. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

Insider Transactions at CoStar Group

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 sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of analyst reports. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research report on Tuesday. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. One equities research 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.