Commerce Bank Sells 3,896 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Commerce Bank lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,897 shares of the technology company’s stock after selling 3,896 shares during the quarter. Commerce Bank’s holdings in CoStar Group were worth $3,689,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its stake in shares of CoStar Group by 34.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 15,301 shares of the technology company’s stock valued at $1,478,000 after buying an additional 3,892 shares during the period. Ascent Group LLC increased its position in CoStar Group by 4.2% during the 1st quarter. Ascent Group LLC now owns 6,207 shares of the technology company’s stock valued at $600,000 after purchasing an additional 253 shares during the period. Janus Henderson Group PLC raised its holdings in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after purchasing an additional 1,773,564 shares in the last quarter. Ironvine Capital Partners LLC raised its holdings in shares of CoStar Group by 0.3% in the 1st quarter. Ironvine Capital Partners LLC now owns 453,748 shares of the technology company’s stock valued at $43,832,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Center Lake Capital Management LLC purchased a new stake in shares of CoStar Group in the 1st quarter worth approximately $966,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CSGP shares. 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 stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Citigroup dropped their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Trading Up 3.6 %

Shares of CoStar Group stock opened at $79.81 on Friday. The stock has a market cap of $32.72 billion, a PE ratio of 181.39 and a beta of 0.82. The firm has a fifty day moving average price of $75.49 and a 200 day moving average price of $76.99. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. 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 issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. Equities research analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other CoStar Group news, CEO Andrew C. Florance purchased 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, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,913,501 shares in the company, valued at approximately $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. 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.