Chevy Chase Trust Holdings LLC Sells 484 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Chevy Chase Trust Holdings LLC lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 222,449 shares of the technology company’s stock after selling 484 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of CoStar Group worth $16,782,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of CoStar Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after buying an additional 124,761 shares during the period. Vulcan Value Partners LLC lifted its holdings in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in CoStar Group by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after purchasing an additional 76,916 shares during the period. Mackenzie Financial Corp raised its position in shares of CoStar Group by 16.9% in the second quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after purchasing an additional 341,046 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of CoStar Group by 0.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,096,255 shares of the technology company’s stock valued at $158,141,000 after buying an additional 9,999 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CSGP. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Citigroup reduced 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. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Trading Up 0.1 %

Shares of CSGP stock opened at $80.15 on Wednesday. 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 has a market cap of $32.86 billion, a P/E ratio of 182.16 and a beta of 0.83. The business has a 50-day moving average price of $75.99 and a two-hundred day moving average price of $76.39. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. Equities analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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.