Equitable Trust Co. Decreases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Equitable Trust Co. trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,545 shares of the technology company’s stock after selling 5,949 shares during the period. Equitable Trust Co.’s holdings in CoStar Group were worth $6,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CSGP. Vulcan Value Partners LLC raised its holdings in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after purchasing an additional 1,961,917 shares during 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 valued at $1,140,650,000 after buying an additional 1,773,564 shares during the last quarter. Select Equity Group L.P. bought a new position in shares of CoStar Group during the 2nd quarter valued at $60,761,000. Renaissance Technologies LLC purchased a new position in shares of CoStar Group in the 2nd quarter worth $46,692,000. Finally, Vanguard Group Inc. grew its holdings in shares of CoStar Group by 0.8% in the first 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 during the period. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CSGP shares. BMO Capital Markets dropped their target price on 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. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Robert W. Baird decreased 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 report on Wednesday, July 24th. JPMorgan Chase & Co. cut 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. Finally, Needham & Company LLC decreased their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. 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. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $93.25.

Insider Activity

In other news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Trading Up 1.4 %

Shares of CSGP stock opened at $77.39 on Friday. The stock’s 50-day moving average price is $76.06 and its 200-day moving average price is $78.06. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The stock has a market capitalization of $31.73 billion, a price-to-earnings ratio of 175.89 and a beta of 0.82. 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 posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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.