DekaBank Deutsche Girozentrale Reduces Stake in CoStar Group, Inc. (NASDAQ:CSGP)

DekaBank Deutsche Girozentrale decreased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 24.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,640 shares of the technology company's stock after selling 59,783 shares during the period. DekaBank Deutsche Girozentrale's holdings in CoStar Group were worth $13,648,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CSGP. Vanguard Group Inc. lifted its stake in shares of CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company's stock valued at $6,322,615,000 after purchasing an additional 541,700 shares during the period. Janus Henderson Group PLC increased its holdings in CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company's stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CoStar Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company's stock valued at $453,534,000 after buying an additional 124,761 shares during the period. Blair William & Co. IL boosted its holdings in shares of CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company's stock worth $426,951,000 after buying an additional 26,800 shares in the last quarter. Finally, Vulcan Value Partners LLC grew its position in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock worth $306,831,000 after buying an additional 1,961,917 shares during the period. Institutional investors own 96.60% of the company's stock.

Insider Activity

In related news, Director Michael R. Klein sold 71,633 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, 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 SEC, which is accessible through this link. In other news, Director Michael R. Klein sold 71,633 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost 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. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CSGP shares. JMP Securities reiterated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Bank of America dropped their price objective on shares of CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group reduced their target price on CoStar Group from $108.00 to $93.00 and set a "buy" rating for the company in a research note on Wednesday, July 24th. Robert W. Baird dropped their price target on CoStar Group from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 24th. Finally, BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, CoStar Group presently has an average rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Stock Up 0.5 %

CSGP traded up $0.35 during mid-day trading on Wednesday, reaching $73.59. 164,243 shares of the stock were exchanged, compared to its average volume of 2,360,611. 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 quick ratio of 9.63 and a current ratio of 9.63. The stock has a market capitalization of $30.17 billion, a PE ratio of 166.46 and a beta of 0.81. The company has a 50 day moving average price of $76.41 and a two-hundred day moving average price of $78.57.

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, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million for 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 firm's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

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.