Pragma Gestao DE Patrimonio Ltd. Reduces Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Pragma Gestao DE Patrimonio Ltd. decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,000 shares of the technology company's stock after selling 13,000 shares during the quarter. CoStar Group accounts for about 5.1% of Pragma Gestao DE Patrimonio Ltd.'s portfolio, making the stock its 10th largest holding. Pragma Gestao DE Patrimonio Ltd.'s holdings in CoStar Group were worth $9,807,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in CoStar Group during the first quarter worth about $31,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group during the second quarter worth $49,000. Quarry LP acquired a new stake in shares of CoStar Group in the 2nd quarter valued at $54,000. Covestor Ltd increased its stake in shares of CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company's stock valued at $68,000 after purchasing an additional 211 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of CoStar Group during the 2nd quarter worth $73,000. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. Needham & Company LLC decreased their price target on shares of CoStar Group from $107.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird cut their target price on shares of CoStar Group from $105.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lowered 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. Finally, Keefe, Bruyette & Woods dropped their price target on CoStar Group from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Trading Up 1.4 %

Shares of NASDAQ:CSGP traded up $1.09 during trading on Friday, reaching $77.39. The stock had a trading volume of 2,277,981 shares, compared to its average volume of 2,376,772. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week 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 firm's fifty day moving average is $76.06 and its 200 day moving average is $78.06. The stock has a market cap of $31.73 billion, a price-to-earnings ratio of 175.89 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same period last year, the business posted $0.25 EPS. The business's revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at CoStar Group

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

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.