Victory Capital Management Inc. Reduces Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Victory Capital Management Inc. cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 656,936 shares of the technology company's stock after selling 86,254 shares during the period. Victory Capital Management Inc. owned about 0.16% of CoStar Group worth $49,559,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CSGP. Crewe Advisors LLC bought a new position in shares of CoStar Group during the first quarter worth about $31,000. Ashton Thomas Securities LLC bought a new position in CoStar Group during the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $49,000. Covestor Ltd boosted its stake in shares of CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company's stock valued at $68,000 after purchasing an additional 211 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of CoStar Group during the second quarter worth $54,000. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Down 5.1 %

Shares of CoStar Group stock traded down $3.79 during trading hours on Friday, reaching $71.25. The company's stock had a trading volume of 3,569,653 shares, compared to its average volume of 2,384,428. The company has a market capitalization of $29.21 billion, a P/E ratio of 161.93 and a beta of 0.82. The stock's fifty day simple moving average is $75.82 and its two-hundred day simple moving average is $77.52. CoStar Group, Inc. has a one year low of $68.26 and a one 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.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating 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 quarter last year, the firm earned $0.25 EPS. On average, research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the firm's stock in a transaction on Friday, October 25th. The stock was purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the business's 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 owns 1,913,501 shares in the company, valued at $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 insiders.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of analyst reports. Royal Bank of Canada downgraded shares of CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Needham & Company LLC dropped their price objective 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. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Citigroup lowered their target price on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Finally, Bank of America cut their price target on CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group has an average rating of "Moderate Buy" and a consensus target price of $93.25.

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.