Toronto Dominion Bank Sells 61,415 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Toronto Dominion Bank reduced its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 30.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,575 shares of the technology company’s stock after selling 61,415 shares during the period. Toronto Dominion Bank’s holdings in CoStar Group were worth $10,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in CoStar Group during the 3rd quarter worth approximately $40,000. Telemark Asset Management LLC lifted its holdings in shares of CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 150,000 shares during the period. Swedbank AB grew its stake in shares of CoStar Group by 469.3% in the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after purchasing an additional 204,474 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in CoStar Group by 101.1% in the third quarter. Cerity Partners LLC now owns 14,553 shares of the technology company’s stock valued at $1,098,000 after purchasing an additional 7,317 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CSGP shares. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. BMO Capital Markets decreased their price objective 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. 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, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Performance

Shares of CSGP opened at $75.07 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a market cap of $30.78 billion, a PE ratio of 170.62 and a beta of 0.83. The stock has a 50-day moving average of $76.45 and a 200-day moving average of $76.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last released 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 quarter in the previous year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

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.