Point72 DIFC Ltd Sells 12,993 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Point72 DIFC Ltd decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,137 shares of the technology company's stock after selling 12,993 shares during the period. Point72 DIFC Ltd's holdings in CoStar Group were worth $2,123,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CSGP. CX Institutional increased its position in shares of CoStar Group by 4.0% during the second quarter. CX Institutional now owns 33,397 shares of the technology company's stock worth $2,476,000 after acquiring an additional 1,275 shares in the last quarter. QRG Capital Management Inc. grew its position in CoStar Group by 15.3% in the second quarter. QRG Capital Management Inc. now owns 18,710 shares of the technology company's stock valued at $1,387,000 after purchasing an additional 2,488 shares in the last quarter. Gateway Investment Advisers LLC grew its position in CoStar Group by 31.1% in the second quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company's stock valued at $3,005,000 after purchasing an additional 9,618 shares in the last quarter. Czech National Bank grew its position in CoStar Group by 8.3% in the second quarter. Czech National Bank now owns 77,813 shares of the technology company's stock valued at $5,769,000 after purchasing an additional 5,962 shares in the last quarter. Finally, Artemis Investment Management LLP grew its position in CoStar Group by 44.4% in the second quarter. Artemis Investment Management LLP now owns 556,931 shares of the technology company's stock valued at $41,291,000 after purchasing an additional 171,189 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Trading Down 3.4 %

Shares of NASDAQ CSGP traded down $2.72 during midday trading on Thursday, reaching $77.03. The stock had a trading volume of 3,286,151 shares, compared to its average volume of 2,388,714. The firm has a market cap of $31.58 billion, a price-to-earnings ratio of 175.07 and a beta of 0.83. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month 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 company's 50 day moving average price is $76.15 and its 200 day moving average price is $76.42.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its 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 net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same quarter in the previous year, the company earned $0.25 EPS. CoStar Group's quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the company'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 owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CSGP shares. JMP Securities reaffirmed a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Royal Bank of Canada downgraded shares of CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Citigroup decreased 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. Finally, BMO Capital Markets decreased their price objective on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Company 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.