CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 12.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 331,972 shares of the technology company’s stock after selling 46,973 shares during the quarter. New York State Common Retirement Fund’s holdings in CoStar Group were worth $25,044,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in CoStar Group in the first quarter valued at $31,000. RiverPark Advisors LLC acquired a new position in shares of CoStar Group in the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of CoStar Group in the second quarter worth about $49,000. Covestor Ltd grew its holdings in CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after acquiring an additional 211 shares during the period. Finally, Quarry LP purchased a new position in CoStar Group during the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other CoStar Group news, 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 in the company, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction on Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their position. The acquisition 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 firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $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. 1.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on CSGP. Robert W. Baird lowered their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group dropped their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America decreased their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Performance

NASDAQ CSGP opened at $72.50 on Monday. 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 stock’s 50 day simple moving average is $76.22 and its 200-day simple moving average is $78.29. The company has a market cap of $29.72 billion, a PE ratio of 164.78 and a beta of 0.82. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating 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 firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal 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.