CoStar Group, Inc. (NASDAQ:CSGP) Holdings Decreased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,134 shares of the technology company’s stock after selling 1,037 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CoStar Group were worth $915,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CSGP. Empowered Funds LLC raised its holdings in shares of CoStar Group by 7.8% during the third quarter. Empowered Funds LLC now owns 6,414 shares of the technology company’s stock worth $484,000 after purchasing an additional 463 shares during the period. Empirical Finance LLC raised its stake in CoStar Group by 6.5% during the third quarter. Empirical Finance LLC now owns 7,881 shares of the technology company’s stock worth $595,000 after acquiring an additional 482 shares during the period. CIBC Asset Management Inc boosted its stake in CoStar Group by 6.1% in the third quarter. CIBC Asset Management Inc now owns 127,091 shares of the technology company’s stock valued at $9,588,000 after acquiring an additional 7,304 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of CoStar Group by 6.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,517 shares of the technology company’s stock valued at $869,000 after purchasing an additional 676 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in shares of CoStar Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 18,008 shares of the technology company’s stock worth $1,359,000 after purchasing an additional 861 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction 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 transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

CoStar Group Trading Down 5.1 %

Shares of CSGP stock opened at $71.25 on Monday. The stock has a 50-day simple moving average of $75.82 and a 200 day simple moving average of $77.33. The stock has a market capitalization of $29.21 billion, a P/E ratio of 161.94 and a beta of 0.82. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CSGP shares. The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target 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. Needham & Company LLC cut their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird decreased their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.25.

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.