Natixis Advisors LLC Buys 145,715 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Natixis Advisors LLC increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 41.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 495,570 shares of the technology company’s stock after purchasing an additional 145,715 shares during the quarter. Natixis Advisors LLC owned 0.12% of CoStar Group worth $37,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of CoStar Group during the first quarter valued at $31,000. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group during the third quarter valued at $40,000. Industrial Alliance Investment Management Inc. bought a new position in shares of CoStar Group during the second quarter valued at $49,000. Covestor Ltd lifted its holdings in shares of CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares in the last quarter. Finally, Quarry LP bought a new position in shares of CoStar Group during the second quarter valued at $54,000. 96.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. One equities 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Insider Activity at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed 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 dated Friday, October 25th. The stock was bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was 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 corporate insiders.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $71.25 on Monday. The stock has a 50-day moving average price of $75.82 and a 200 day moving average price of $77.33. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The stock has a market capitalization of $29.21 billion, a P/E ratio of 161.94 and a beta of 0.82. 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 announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Equities research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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.