Bares Capital Management Inc. Has $48.92 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Bares Capital Management Inc. reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 53.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 648,467 shares of the technology company’s stock after selling 734,368 shares during the period. CoStar Group accounts for approximately 4.5% of Bares Capital Management Inc.’s portfolio, making the stock its 8th biggest holding. Bares Capital Management Inc. owned 0.16% of CoStar Group worth $48,920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group in the 3rd quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group during the second quarter valued at approximately $49,000. Quarry LP bought a new position in shares of CoStar Group in the second quarter valued at approximately $54,000. Rothschild Investment LLC acquired a new stake in shares of CoStar Group in the second quarter worth $73,000. Finally, Blue Trust Inc. grew its stake in CoStar Group by 493.4% in the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after buying an additional 898 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of a number of research analyst reports. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Monday. Finally, BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. One equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.25.

Insider Transactions at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’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 directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group Price Performance

NASDAQ:CSGP opened at $78.65 on Tuesday. 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 company has a 50-day moving average of $76.26 and a 200-day moving average of $76.15. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a market capitalization of $32.24 billion, a price-to-earnings ratio of 178.75 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last released 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. The company had revenue of $692.60 million for 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 company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal 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.