Avitas Wealth Management LLC Sells 382 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Avitas Wealth Management LLC cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,036 shares of the technology company’s stock after selling 382 shares during the period. Avitas Wealth Management LLC’s holdings in CoStar Group were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after acquiring an additional 541,700 shares in the last quarter. Janus Henderson Group PLC raised its stake in CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after buying an additional 1,773,564 shares during the period. Bank of New York Mellon Corp raised its stake in CoStar Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after buying an additional 124,761 shares during the period. Blair William & Co. IL raised its stake in CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after buying an additional 26,800 shares during the period. Finally, Vulcan Value Partners LLC raised its stake in 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 buying an additional 1,961,917 shares during the period. 96.60% of the stock is owned by institutional investors.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $73.46 on Thursday. The stock has a fifty day simple moving average of $76.37 and a two-hundred day simple moving average of $78.54. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 166.96 and a beta of 0.81. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data 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 return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the company earned $0.25 earnings per share. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. Analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Transactions at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CSGP shares. Citigroup dropped 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. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday. Bank of America lowered their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada downgraded 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 research note on Wednesday, October 23rd. Finally, Robert W. Baird lowered their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.25.

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.