Stansberry Asset Management LLC Reduces Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Stansberry Asset Management LLC decreased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,510 shares of the technology company’s stock after selling 732 shares during the quarter. Stansberry Asset Management LLC’s holdings in CoStar Group were worth $868,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the third quarter worth about $40,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group during the second quarter worth about $49,000. Quarry LP purchased a new position in shares of CoStar Group during the second quarter worth about $54,000. Rothschild Investment LLC purchased a new position in shares of CoStar Group during the second quarter worth about $73,000. Finally, Blue Trust Inc. grew its holdings in shares of CoStar Group by 493.4% during the second 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. 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 research reports. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of CoStar Group in a report on Tuesday, November 19th. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. reduced 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. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, Citigroup reduced their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Trading Down 0.5 %

Shares of CSGP opened at $79.75 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm has a 50 day simple moving average of $76.11 and a 200-day simple moving average of $76.42. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market cap of $32.69 billion, a price-to-earnings ratio of 181.25 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period last year, the company posted $0.25 EPS. The company’s revenue was up 10.9% on a year-over-year basis. Equities analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

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.