CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,478 shares of the technology company’s stock after selling 1,791 shares during the quarter. Sanctuary Advisors LLC’s holdings in CoStar Group were worth $2,113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after purchasing an additional 898 shares in the last quarter. Fifth Third Bancorp lifted its stake in CoStar Group by 3.9% in the 2nd quarter. Fifth Third Bancorp now owns 8,087 shares of the technology company’s stock valued at $600,000 after buying an additional 307 shares in the last quarter. Everhart Financial Group Inc. boosted its holdings in CoStar Group by 8.3% in the 2nd quarter. Everhart Financial Group Inc. now owns 4,470 shares of the technology company’s stock worth $331,000 after buying an additional 342 shares during the last quarter. Baskin Financial Services Inc. increased its stake in CoStar Group by 8.7% during the 2nd quarter. Baskin Financial Services Inc. now owns 280,680 shares of the technology company’s stock worth $20,810,000 after buying an additional 22,538 shares in the last quarter. Finally, Atlantic Union Bankshares Corp raised its holdings in shares of CoStar Group by 44.7% during the second quarter. Atlantic Union Bankshares Corp now owns 28,098 shares of the technology company’s stock valued at $2,083,000 after acquiring an additional 8,675 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Down 3.2 %

CSGP opened at $70.77 on Thursday. The stock has a market capitalization of $29.01 billion, a PE ratio of 160.84 and a beta of 0.83. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The business’s 50 day moving average price is $76.35 and its 200 day moving average price is $75.86.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate 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 return on equity of 3.53% and a net margin of 6.57%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. Citigroup lowered their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. BMO Capital Markets lowered their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

CoStar Group Company 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.