DekaBank Deutsche Girozentrale Trims Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

DekaBank Deutsche Girozentrale cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 24.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vulcan Value Partners LLC raised 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 valued at $306,831,000 after buying an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC increased its stake in CoStar Group by 17.7% during 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 acquiring an additional 1,773,564 shares during the last quarter. Select Equity Group L.P. purchased a new stake in CoStar Group during the second quarter valued at approximately $60,761,000. Renaissance Technologies LLC bought a new position in shares of CoStar Group during the 2nd quarter valued at approximately $46,692,000. Finally, Vanguard Group Inc. raised its holdings in CoStar Group by 0.8% during 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 buying an additional 541,700 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday. Robert W. Baird cut their target price 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. BMO Capital Markets decreased their price target 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. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. One 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.25.

Insider Activity

In related news, Director Michael R. Klein sold 71,633 shares of the business'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 transaction, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Michael R. Klein sold 71,633 shares of the business's 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 transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the firm's stock in a transaction on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at $94,315,527.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company's stock.

CoStar Group Stock Up 0.3 %

NASDAQ CSGP traded up $0.22 during trading on Wednesday, reaching $73.46. 2,447,419 shares of the company's stock traded hands, compared to its average volume of 2,371,483. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month 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 firm has a market cap of $30.12 billion, a price-to-earnings ratio of 168.34 and a beta of 0.81. The company's 50 day simple moving average is $76.41 and its two-hundred day simple moving average is $78.57.

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 company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal 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.