Massachusetts Financial Services Co. MA Decreases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Massachusetts Financial Services Co. MA decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 0.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,380,192 shares of the technology company’s stock after selling 4,380 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in CoStar Group were worth $858,522,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Vulcan Value Partners LLC grew its holdings in CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after purchasing an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after acquiring an additional 1,773,564 shares during the last quarter. Select Equity Group L.P. acquired a new position in shares of CoStar Group in the second quarter worth about $60,761,000. Renaissance Technologies LLC purchased a new position in CoStar Group in the second quarter valued at about $46,692,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in CoStar Group during the 2nd quarter valued at approximately $34,987,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In related news, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $76.27 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 market capitalization of $31.27 billion, a PE ratio of 173.34 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. The business’s fifty day moving average price is $75.49 and its two-hundred day moving average price is $77.07.

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, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. On average, research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

CSGP has been the topic of a number of recent analyst reports. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped 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 report on Thursday, October 24th. The Goldman Sachs Group reduced 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. Finally, Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $93.25.

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.