CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,852 shares of the technology company’s stock after selling 323 shares during the quarter. Malaga Cove Capital LLC’s holdings in CoStar Group were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in CoStar Group during the first quarter worth approximately $31,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of CoStar Group during the second quarter worth $49,000. Quarry LP purchased a new stake in shares of CoStar Group in the second quarter valued at $54,000. Covestor Ltd increased its stake in CoStar Group by 43.0% in 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 during the last quarter. Finally, Rothschild Investment LLC acquired a new position in CoStar Group in the second quarter valued at $73,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSGP has been the subject of several recent analyst reports. Bank of America lowered their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. BMO Capital Markets dropped their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Robert W. Baird decreased their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Needham & Company LLC lowered their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Performance

CoStar Group stock opened at $74.87 on Thursday. The firm has a market capitalization of $30.69 billion, a PE ratio of 170.16 and a beta of 0.82. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The stock’s 50 day moving average price is $76.07 and its 200 day moving average price is $78.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

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.