BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 10,068 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,150 shares of the technology company's stock after selling 10,068 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in CoStar Group were worth $5,141,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in CoStar Group during the 3rd quarter worth $40,000. Industrial Alliance Investment Management Inc. bought a new position in CoStar Group during the 2nd quarter worth $49,000. Quarry LP bought a new position in CoStar Group during the 2nd quarter worth $54,000. Rothschild Investment LLC bought a new position in shares of CoStar Group in the 2nd quarter worth about $73,000. Finally, Blue Trust Inc. raised its position in shares of CoStar Group by 493.4% in the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company's stock worth $80,000 after acquiring an additional 898 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Performance

CSGP stock traded up $0.08 during midday trading on Tuesday, reaching $80.15. 1,524,302 shares of the company's stock traded hands, compared to its average volume of 2,386,191. The company has a 50-day moving average price of $75.99 and a two-hundred day moving average price of $76.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market capitalization of $32.86 billion, a PE ratio of 182.16 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The firm 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 business's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. As a group, equities analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the business's stock in a transaction on Friday, October 25th. The stock was 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 1.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. The trade was a 8.55 % 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

Several research analysts have recently weighed in on CSGP shares. Royal Bank of Canada lowered CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their price target on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research note 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 research report on Thursday, October 24th. Finally, Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.