Eagle Asset Management Inc. Sells 657,825 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Eagle Asset Management Inc. lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 54.0% in the third quarter, Holdings Channel.com reports. The firm owned 561,398 shares of the technology company’s stock after selling 657,825 shares during the period. Eagle Asset Management Inc.’s holdings in CoStar Group were worth $43,447,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CSGP. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth about $40,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the 2nd quarter worth about $49,000. Quarry LP acquired a new position in shares of CoStar Group during the 2nd quarter worth about $54,000. Rothschild Investment LLC acquired a new position in shares of CoStar Group during the 2nd quarter worth about $73,000. Finally, Blue Trust Inc. boosted 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 buying an additional 898 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

NASDAQ CSGP opened at $79.81 on Friday. The firm’s fifty day moving average price is $75.49 and its two-hundred day moving average price is $76.99. The stock has a market cap of $32.72 billion, a PE ratio of 181.39 and a beta of 0.82. 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 debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSGP. Citigroup cut their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. 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, JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. 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 stock has an average rating of “Moderate Buy” and an average target price of $93.25.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The shares were acquired at an average price 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 of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

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.