Point72 DIFC Ltd Cuts Position in CoStar Group, Inc. (NASDAQ:CSGP)

Point72 DIFC Ltd lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 31.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,137 shares of the technology company’s stock after selling 12,993 shares during the quarter. Point72 DIFC Ltd’s holdings in CoStar Group were worth $2,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the third quarter worth about $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of CoStar Group during the second quarter valued at approximately $49,000. Quarry LP purchased a new stake in shares of CoStar Group during the second quarter valued at approximately $54,000. Rothschild Investment LLC purchased a new stake in shares of CoStar Group during the second quarter valued at approximately $73,000. Finally, Blue Trust Inc. grew its holdings in shares of CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after buying an additional 898 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the business’s 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 completion of the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 0.5 %

CSGP opened at $79.75 on Thursday. 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 1-year low of $68.26 and a 1-year high of $100.38. The company has a market capitalization of $32.69 billion, a PE ratio of 181.25 and a beta of 0.83. The firm’s 50 day simple moving average is $76.11 and its two-hundred day simple moving average is $76.42.

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 the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Citigroup cut their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. One equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.