MetLife Investment Management LLC Lowers Position in CoStar Group, Inc. (NASDAQ:CSGP)

MetLife Investment Management LLC trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,491 shares of the technology company’s stock after selling 2,377 shares during the quarter. MetLife Investment Management LLC’s holdings in CoStar Group were worth $8,034,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CSGP. BNP Paribas purchased a new position in CoStar Group in the third quarter valued at $2,475,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in CoStar Group by 107.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 77,906 shares of the technology company’s stock valued at $5,877,000 after purchasing an additional 40,404 shares during the period. Bridgewater Associates LP increased its position in shares of CoStar Group by 23.7% in the third quarter. Bridgewater Associates LP now owns 423,073 shares of the technology company’s stock valued at $31,917,000 after buying an additional 81,054 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of CoStar Group by 12.5% during the 3rd quarter. Townsquare Capital LLC now owns 9,359 shares of the technology company’s stock worth $706,000 after buying an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of CoStar Group by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,260,157 shares of the technology company’s stock valued at $95,066,000 after buying an additional 317,017 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on CSGP shares. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Tuesday, November 19th. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. Finally, Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

CoStar Group Stock Performance

NASDAQ CSGP opened at $81.34 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock’s fifty day moving average is $75.86 and its two-hundred day moving average is $76.66. The firm has a market capitalization of $33.35 billion, a P/E ratio of 184.86 and a beta of 0.82. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share 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 analysts’ expectations of $695.91 million. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

CoStar Group 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.