Caisse DE Depot ET Placement DU Quebec Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Caisse DE Depot ET Placement DU Quebec acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,739 shares of the technology company's stock, valued at approximately $3,601,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the 3rd quarter valued at about $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group in the 2nd quarter valued at $49,000. Quarry LP acquired a new position in CoStar Group in the 2nd quarter valued at $54,000. Rothschild Investment LLC bought a new position in CoStar Group in the 2nd quarter worth $73,000. Finally, Blue Trust Inc. lifted its position in CoStar Group by 493.4% during 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 during the last quarter. Institutional investors own 96.60% of the company's stock.

Insiders Place Their Bets

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares of the company's stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company's stock.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent analyst reports. Citigroup dropped their price objective 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. JPMorgan Chase & Co. dropped their price target on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Royal Bank of Canada downgraded shares of 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 note on Wednesday, October 23rd. Finally, BMO Capital Markets cut their target price on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Price Performance

NASDAQ CSGP traded up $0.08 on Tuesday, reaching $80.15. The company's stock had a trading volume of 1,524,302 shares, compared to its average volume of 2,386,191. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. 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 firm has a market cap of $32.86 billion, a PE ratio of 182.16 and a beta of 0.83. The business has a 50-day moving average price of $75.99 and a 200 day moving average price of $76.39.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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. The company 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 revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. Sell-side analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

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.