CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,276 shares of the technology company’s stock after selling 1,467 shares during the period. Gulf International Bank UK Ltd’s holdings in CoStar Group were worth $2,434,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC increased its holdings in shares of CoStar Group by 4.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after acquiring an additional 112 shares during the last quarter. Picton Mahoney Asset Management increased its stake in CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after purchasing an additional 135 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares during the period. Redmond Asset Management LLC lifted its position in shares of CoStar Group by 0.9% in the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after buying an additional 169 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its holdings in shares of CoStar Group by 0.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after buying an additional 172 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CSGP. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Bank of America reduced their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Needham & Company LLC dropped their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Robert W. Baird dropped their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $74.87 on Thursday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year 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. The stock has a fifty day moving average price of $76.07 and a two-hundred day moving average price of $78.13. The firm has a market cap of $30.69 billion, a P/E ratio of 170.16 and a beta of 0.82.

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

Insider Buying and Selling

In related news, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business’s 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 sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was acquired 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 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.