Toronto Dominion Bank Sells 61,415 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Toronto Dominion Bank trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,575 shares of the technology company’s stock after selling 61,415 shares during the period. Toronto Dominion Bank’s holdings in CoStar Group were worth $10,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group in the 3rd quarter valued at about $40,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group in the second quarter valued at approximately $49,000. Quarry LP acquired a new stake in shares of CoStar Group in the second quarter valued at approximately $54,000. Rothschild Investment LLC acquired a new stake in shares of CoStar Group in the second quarter valued at approximately $73,000. Finally, Blue Trust Inc. boosted its stake in shares of CoStar Group by 493.4% during the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after acquiring an additional 898 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSGP has been the subject of several research reports. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the 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 completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

CSGP opened at $75.07 on Friday. The firm has a market cap of $30.78 billion, a P/E ratio of 170.62 and a beta of 0.83. The business’s fifty day moving average is $76.45 and its 200-day moving average is $76.03. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. 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 released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same period last year, the firm earned $0.25 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts expect 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.