CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 0.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,380,192 shares of the technology company’s stock after selling 4,380 shares during the period. Massachusetts Financial Services Co. MA owned 2.78% of CoStar Group worth $858,522,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSGP. Crewe Advisors LLC purchased a new stake in shares of CoStar Group in the first quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $49,000. Quarry LP purchased a new stake in shares of CoStar Group in the second quarter valued at approximately $54,000. Finally, Covestor Ltd raised its position in CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after acquiring an additional 211 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lowered their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment 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. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 5.8 %

CSGP opened at $76.27 on Thursday. The stock has a market capitalization of $31.27 billion, a price-to-earnings ratio of 173.34 and a beta of 0.82. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month 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 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 issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

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.