State of Alaska Department of Revenue Sells 59,690 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

State of Alaska Department of Revenue lessened its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 55.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,541 shares of the technology company's stock after selling 59,690 shares during the quarter. State of Alaska Department of Revenue's holdings in CoStar Group were worth $3,586,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in CoStar Group during the first quarter worth $31,000. RiverPark Advisors LLC acquired a new stake in CoStar Group during the 1st quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group in the second quarter valued at about $49,000. Quarry LP bought a new stake in shares of CoStar Group in the second quarter valued at approximately $54,000. Finally, Covestor Ltd grew its holdings in shares of CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company's stock worth $68,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Buying and Selling

In other news, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at $94,315,527.66. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was acquired at an average cost 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 directly owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CSGP. Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Needham & Company LLC decreased their price target on CoStar Group from $107.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Royal Bank of Canada lowered shares of CoStar Group from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of CoStar Group from $108.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Stock Performance

Shares of CSGP traded down $0.67 during trading hours on Thursday, hitting $72.79. The company's stock had a trading volume of 2,342,220 shares, compared to its average volume of 2,371,344. The business has a 50 day simple moving average of $76.37 and a two-hundred day simple moving average of $78.54. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week 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 has a market cap of $29.84 billion, a price-to-earnings ratio of 166.34 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same quarter last year, the company posted $0.25 EPS. The company's revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 earnings per share 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.