Baillie Gifford & Co. Has $663.81 Million Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Baillie Gifford & Co. trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,799,131 shares of the technology company's stock after selling 252,650 shares during the period. Baillie Gifford & Co. owned approximately 2.15% of CoStar Group worth $663,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of CoStar Group during the 1st quarter worth $4,223,000. State Board of Administration of Florida Retirement System grew its holdings in CoStar Group by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company's stock valued at $46,145,000 after buying an additional 23,987 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of CoStar Group in the first quarter valued at $802,000. Gateway Investment Advisers LLC increased its position in CoStar Group by 31.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company's stock worth $3,005,000 after purchasing an additional 9,618 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in CoStar Group in the 1st quarter valued at about $28,446,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

CSGP stock traded down $0.45 during midday trading on Tuesday, hitting $75.42. The stock had a trading volume of 900,479 shares, compared to its average volume of 2,373,082. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 172.43 and a beta of 0.82. 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 50-day simple moving average of $76.03 and a 200 day simple moving average of $77.82. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million during 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 was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

CSGP has been the topic of several analyst reports. Needham & Company LLC decreased their price objective on CoStar Group from $107.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Citigroup dropped their target price on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. BMO Capital Markets reduced their price objective on 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. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $109.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, July 17th. Finally, Bank of America cut their price objective on CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $93.25.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance purchased 14,731 shares of the business's stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction 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 transaction, the director now directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the business's stock in a transaction on Friday, October 25th. The shares were acquired at an average cost 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 directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase 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.