CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 53.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,390 shares of the technology company’s stock after selling 15,375 shares during the period. Qsemble Capital Management LP’s holdings in CoStar Group were worth $1,010,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

CSGP has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup reduced their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. BMO Capital Markets cut their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $96.00 to $83.00 in a research note 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Performance

Shares of CSGP stock opened at $79.92 on Wednesday. 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 firm has a market capitalization of $32.76 billion, a price-to-earnings ratio of 181.64 and a beta of 0.82. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a 50 day moving average price of $75.62 and a 200 day moving average price of $76.64.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $695.91 million. During the same period last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Activity

In related news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction dated 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 transaction, the director now 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 disclosure for this sale can be found here. Corporate 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.