Public Employees Retirement System of Ohio Sells 41,895 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Public Employees Retirement System of Ohio reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 22.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,391 shares of the technology company's stock after selling 41,895 shares during the quarter. Public Employees Retirement System of Ohio's holdings in CoStar Group were worth $11,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group in the 3rd quarter valued at about $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group during the second quarter worth $49,000. Quarry LP bought a new position in CoStar Group in the second quarter valued at $54,000. Rothschild Investment LLC acquired a new stake in CoStar Group in the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. lifted its position in CoStar Group by 493.4% during the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company's stock worth $80,000 after buying an additional 898 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded up $0.67 during trading on Thursday, reaching $78.25. 1,533,108 shares of the stock were exchanged, compared to its average volume of 2,380,728. The firm has a market cap of $32.08 billion, a PE ratio of 175.25 and a beta of 0.83. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The stock has a 50-day moving average price of $76.35 and a 200-day moving average price of $76.09.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $692.60 million for the quarter, compared to analysts' expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. Research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was 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 $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were 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 of the company's stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. Citigroup dropped their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada cut shares of CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and an average price target of $93.25.

About CoStar Group

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.