CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,385 shares of the technology company's stock after selling 10,140 shares during the quarter. Gateway Investment Advisers LLC's holdings in CoStar Group were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in CoStar Group in the first quarter worth about $31,000. Riverview Trust Co bought a new position in CoStar Group during the first quarter valued at approximately $35,000. RiverPark Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group during the 2nd quarter worth approximately $49,000. Finally, Quarry LP bought a new stake in shares of CoStar Group during the 2nd quarter worth approximately $54,000. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Performance

NASDAQ:CSGP traded up $1.44 during trading hours on Friday, reaching $76.27. 2,339,294 shares of the company's stock were exchanged, compared to its average volume of 2,241,923. The firm has a market capitalization of $31.14 billion, a price-to-earnings ratio of 104.48 and a beta of 0.81. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $75.85 and a 200 day moving average of $80.06. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same quarter in the previous year, the company earned $0.27 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. Research analysts anticipate that CoStar Group, Inc. will post 0.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on CSGP. The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Robert W. Baird cut their price target on 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. lifted their price target on CoStar Group from $102.00 to $108.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. StockNews.com raised CoStar Group from a "sell" rating to a "hold" rating in a research note on Tuesday, October 8th. Finally, Bank of America reduced their price target on shares of CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group has a consensus rating of "Moderate Buy" and an average target price of $96.38.

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.