CoStar Group, Inc. (NASDAQ:CSGP) is Spyglass Capital Management LLC’s 10th Largest Position

Spyglass Capital Management LLC trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.5% during the third quarter, Holdings Channel reports. The firm owned 829,004 shares of the technology company’s stock after selling 12,300 shares during the quarter. CoStar Group comprises approximately 4.1% of Spyglass Capital Management LLC’s holdings, making the stock its 10th biggest position. Spyglass Capital Management LLC’s holdings in CoStar Group were worth $62,540,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CoStar Group by 0.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,096,255 shares of the technology company’s stock worth $158,141,000 after acquiring an additional 9,999 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of CoStar Group by 25.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 71,485 shares of the technology company’s stock worth $5,393,000 after purchasing an additional 14,686 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CoStar Group by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,562 shares of the technology company’s stock worth $13,395,000 after purchasing an additional 13,873 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of CoStar Group during the third quarter worth $1,239,000. Finally, BNP Paribas purchased a new stake in shares of CoStar Group in the third quarter valued at $2,475,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

CoStar Group stock opened at $81.97 on Friday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $33.60 billion, a P/E ratio of 186.30 and a beta of 0.82. The stock has a 50 day moving average of $75.78 and a 200-day moving average of $76.71.

CoStar Group (NASDAQ:CSGP) last issued its 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. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. On average, analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was bought 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 approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred 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 sale, the director now owns 1,913,501 shares in the company, 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. Company insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. 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’s stock. Based on data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus target price 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.