Fmr LLC Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

FMR LLC reduced its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,597,428 shares of the technology company's stock after selling 9,068 shares during the period. FMR LLC owned about 0.39% of CoStar Group worth $120,510,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CSGP. Vulcan Value Partners LLC raised its holdings in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock valued at $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Select Equity Group L.P. bought a new stake in shares of CoStar Group during the 2nd quarter valued at about $60,761,000. Renaissance Technologies LLC purchased a new stake in shares of CoStar Group during the 2nd quarter valued at about $46,692,000. Jupiter Asset Management Ltd. purchased a new position in shares of CoStar Group in the second quarter worth approximately $34,987,000. Finally, Icon Wealth Advisors LLC grew its position in CoStar Group by 8,314.1% during the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company's stock valued at $30,925,000 after buying an additional 405,062 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly owns 58,798 shares of the company's stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the company's stock in a transaction on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company's stock.

CoStar Group Price Performance

Shares of CSGP stock traded down $2.72 on Thursday, reaching $77.03. The company's stock had a trading volume of 3,286,151 shares, compared to its average volume of 2,388,714. The stock's fifty day simple moving average is $76.15 and its 200-day simple moving average is $76.42. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a market capitalization of $31.58 billion, a price-to-earnings ratio of 175.07 and a beta of 0.83. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analysts' expectations 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 was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. Analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on CSGP shares. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of CoStar Group in a research note on Tuesday, November 19th. Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. JMP Securities restated a "market outperform" rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Citigroup lowered 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 note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.