CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,370 shares of the technology company’s stock after selling 570 shares during the period. L. Roy Papp & Associates LLP’s holdings in CoStar Group were worth $2,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC lifted its stake in shares of CoStar Group by 4.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after acquiring an additional 112 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of CoStar Group by 2.9% in the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after acquiring an additional 135 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of CoStar Group by 1.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after acquiring an additional 138 shares during the period. Redmond Asset Management LLC lifted its stake in shares of CoStar Group by 0.9% in the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after acquiring an additional 169 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its stake in shares of CoStar Group by 0.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after acquiring an additional 172 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CSGP. Needham & Company LLC reduced their price target on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup dropped their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a report on Wednesday. Robert W. Baird dropped their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Trading Up 0.8 %

Shares of CSGP stock traded up $0.57 during trading hours on Friday, reaching $74.48. 4,795,674 shares of the stock traded hands, compared to its average volume of 2,351,629. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The business has a fifty day moving average price of $76.46 and a 200 day moving average price of $78.91. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.49 EPS for the current year.

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.