CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Commerce Bank

Commerce Bank cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.4% during the third quarter, HoldingsChannel.com reports. The fund owned 48,897 shares of the technology company’s stock after selling 3,896 shares during the period. Commerce Bank’s holdings in CoStar Group were worth $3,689,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CSGP. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group during the second quarter worth $49,000. Quarry LP purchased a new stake in CoStar Group in the 2nd quarter valued at $54,000. Rothschild Investment LLC acquired a new stake in shares of CoStar Group in the 2nd quarter worth $73,000. Finally, Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 898 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 brokerages recently issued reports on CSGP. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on shares of 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. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Citigroup cut their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Price Performance

Shares of CSGP opened at $79.81 on Friday. The company has a market cap of $32.72 billion, a P/E ratio of 181.39 and a beta of 0.82. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average price is $75.49 and its 200 day moving average price is $76.99.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group 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 sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

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.