8,226 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,226 shares of the technology company's stock, valued at approximately $621,000.

A number of other hedge funds have also made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in CoStar Group during the third quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter valued at $49,000. Quarry LP acquired a new stake in CoStar Group during the 2nd quarter worth $54,000. Rothschild Investment LLC acquired a new stake in CoStar Group during the 2nd quarter worth $73,000. Finally, Blue Trust Inc. grew 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 purchasing an additional 898 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Buying and Selling

In other news, CEO Andrew C. Florance purchased 14,731 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction on 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 completion of the transaction, the director now directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

CoStar Group Trading Down 4.3 %

Shares of CSGP stock traded down $3.34 during mid-day trading on Friday, hitting $74.91. 970,819 shares of the company's stock were exchanged, compared to its average volume of 2,374,563. The stock has a market cap of $30.71 billion, a price-to-earnings ratio of 177.84 and a beta of 0.83. The stock has a 50-day simple moving average of $76.43 and a two-hundred day simple moving average of $76.11. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

Wall Street Analysts Forecast Growth

CSGP has been the subject of several recent research reports. JMP Securities reiterated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. Citigroup cut their price target on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada cut shares of CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $93.25.

CoStar Group 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.