CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,322 shares of the technology company's stock after selling 53,829 shares during the quarter. Jennison Associates LLC owned about 0.11% of CoStar Group worth $34,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crewe Advisors LLC purchased a new stake in shares of CoStar Group during the first quarter valued at approximately $31,000. Ashton Thomas Securities LLC bought a new position in CoStar Group during the 3rd quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter worth approximately $49,000. Quarry LP bought a new stake in CoStar Group in the second quarter valued at $54,000. Finally, Covestor Ltd lifted its position in shares of CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company's stock worth $68,000 after purchasing an additional 211 shares during the period. Institutional investors own 96.60% of the company's stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded up $3.17 during mid-day trading on Friday, hitting $80.17. 1,787,500 shares of the company's stock traded hands, compared to its average volume of 2,392,409. The company has a market capitalization of $32.87 billion, a P/E ratio of 174.98 and a beta of 0.82. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company's 50-day moving average is $75.47 and its two-hundred day moving average is $77.07.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results 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%. CoStar Group's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company's stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was purchased 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. The trade was a 1.18 % 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.

Analyst Upgrades and Downgrades

CSGP has been the subject of several analyst reports. BMO Capital Markets reduced their price target on CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. 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 report on Thursday, October 24th. JPMorgan Chase & Co. lowered 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, JMP Securities restated a "market outperform" rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. 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. According to data from MarketBeat, CoStar Group has an average rating of "Moderate Buy" and a consensus target price of $93.25.

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.