STF Management LP Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

STF Management LP trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,982 shares of the technology company’s stock after selling 401 shares during the period. STF Management LP’s holdings in CoStar Group were worth $451,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. purchased a new stake in shares of CoStar Group during the first quarter worth about $217,000. Covestor Ltd boosted 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 worth $68,000 after purchasing an additional 211 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of CoStar Group by 34.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 15,301 shares of the technology company’s stock worth $1,478,000 after purchasing an additional 3,892 shares during the period. Bessemer Group Inc. boosted its holdings in shares of CoStar Group by 73.0% during the first quarter. Bessemer Group Inc. now owns 32,119 shares of the technology company’s stock worth $3,102,000 after purchasing an additional 13,558 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of CoStar Group during the first quarter worth about $31,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSGP. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a report on Tuesday. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Trading Up 0.9 %

Shares of CSGP stock opened at $76.99 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $75.47 and its 200 day moving average is $77.07. The stock has a market capitalization of $31.56 billion, a P/E ratio of 174.98 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The company 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 firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. Research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Transactions at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were acquired at an average price 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. The trade was a 1.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction 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 owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

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.