CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Prana Capital Management LP

Prana Capital Management LP decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 14.8% in the third quarter, Holdings Channel reports. The firm owned 170,982 shares of the technology company’s stock after selling 29,661 shares during the period. Prana Capital Management LP’s holdings in CoStar Group were worth $12,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. Motley Fool Asset Management LLC boosted its holdings in CoStar Group by 24.4% in the third quarter. Motley Fool Asset Management LLC now owns 75,530 shares of the technology company’s stock worth $5,638,000 after acquiring an additional 14,829 shares in the last quarter. Motley Fool Wealth Management LLC boosted its stake in CoStar Group by 28.1% in the 3rd quarter. Motley Fool Wealth Management LLC now owns 394,453 shares of the technology company’s stock worth $29,758,000 after purchasing an additional 86,483 shares in the last quarter. IHT Wealth Management LLC grew its position in CoStar Group by 16.1% during the 3rd quarter. IHT Wealth Management LLC now owns 4,074 shares of the technology company’s stock worth $307,000 after purchasing an additional 565 shares during the last quarter. Investment Management Corp of Ontario increased its stake in CoStar Group by 48.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 13,494 shares of the technology company’s stock valued at $1,018,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Harbor Advisors LLC raised its holdings in shares of CoStar Group by 17.6% in the third quarter. Harbor Advisors LLC now owns 20,060 shares of the technology company’s stock worth $1,513,000 after buying an additional 3,000 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CSGP shares. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Needham & Company LLC reiterated 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. decreased 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Trading Up 0.1 %

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

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results 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. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the prior year, the firm posted $0.25 EPS. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale 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 the firm’s 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 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 corporate insiders.

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.