CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 95.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 380 shares of the technology company’s stock after selling 7,300 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in CoStar Group were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CSGP. Vulcan Value Partners LLC lifted its holdings in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after acquiring an additional 1,961,917 shares during the period. Select Equity Group L.P. purchased a new position in CoStar Group during the second quarter worth approximately $60,761,000. Renaissance Technologies LLC acquired a new position in shares of CoStar Group in the 2nd quarter valued at $46,692,000. Jupiter Asset Management Ltd. purchased a new position in shares of CoStar Group in the 2nd quarter worth $34,987,000. Finally, Icon Wealth Advisors LLC grew its holdings in shares of CoStar Group by 8,314.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock worth $30,925,000 after purchasing an additional 405,062 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSGP. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. 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 research report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. Finally, BMO Capital Markets cut their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $81.97 on Friday. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $75.78 and a 200 day simple moving average of $76.71. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a market cap of $33.60 billion, a PE ratio of 186.30 and a beta of 0.82.

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