Baillie Gifford & Co. Sells 252,650 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Baillie Gifford & Co. reduced its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,799,131 shares of the technology company’s stock after selling 252,650 shares during the quarter. Baillie Gifford & Co. owned 2.15% of CoStar Group worth $663,806,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of CoStar Group during the 1st quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group during the 3rd quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. bought a new position in shares of CoStar Group during the 2nd quarter valued at approximately $49,000. Covestor Ltd grew its stake in shares of CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after acquiring an additional 211 shares during the period. Finally, Quarry LP bought a new position in shares of CoStar Group during the 2nd quarter valued at approximately $54,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Down 2.0 %

Shares of CSGP opened at $75.87 on Tuesday. The business’s 50 day simple moving average is $76.03 and its 200-day simple moving average is $77.82. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The stock has a market capitalization of $31.10 billion, a price-to-earnings ratio of 172.43 and a beta of 0.82. 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 (NASDAQ:CSGP) last released its quarterly earnings results 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 quarter in the prior year, the firm posted $0.25 EPS. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 0.00 % increase in their position. The acquisition 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 the company’s stock in a transaction on Friday, October 25th. The stock was 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 $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSGP. Robert W. Baird cut their price objective 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. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. BMO Capital Markets lowered their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 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.