CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by BluePath Capital Management LLC

BluePath Capital Management LLC cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 7.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 8,160 shares of the technology company’s stock after selling 701 shares during the period. CoStar Group accounts for approximately 0.6% of BluePath Capital Management LLC’s portfolio, making the stock its 25th largest position. BluePath Capital Management LLC’s holdings in CoStar Group were worth $788,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Azzad Asset Management Inc. ADV increased its stake in shares of CoStar Group by 0.5% in the first quarter. Azzad Asset Management Inc. ADV now owns 97,214 shares of the technology company’s stock worth $9,391,000 after buying an additional 512 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in CoStar Group by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after purchasing an additional 17,658 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in CoStar Group during the first quarter valued at $206,000. Blue Zone Wealth Advisors LLC increased its stake in CoStar Group by 1.7% during the first quarter. Blue Zone Wealth Advisors LLC now owns 52,521 shares of the technology company’s stock valued at $5,074,000 after purchasing an additional 875 shares during the last quarter. Finally, First Bank & Trust increased its stake in CoStar Group by 5.7% during the first quarter. First Bank & Trust now owns 22,024 shares of the technology company’s stock valued at $2,128,000 after purchasing an additional 1,186 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Price Performance

CSGP stock traded down $0.39 during trading on Wednesday, hitting $73.83. The company had a trading volume of 1,053,471 shares, compared to its average volume of 2,246,745. The firm has a market capitalization of $30.15 billion, a price-to-earnings ratio of 101.14, a P/E/G ratio of 11.04 and a beta of 0.81. The business has a 50 day moving average of $82.34 and a 200 day moving average of $85.36. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The firm had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.27 million. As a group, research analysts predict that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSGP shares. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods boosted their target price on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Robert W. Baird boosted their target price on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Royal Bank of Canada reissued an “outperform” rating and set a $109.00 price target on shares of CoStar Group in a report on Friday, June 7th. Finally, Jefferies Financial Group boosted their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.46.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the sale, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the sale, the chief financial officer now owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the sale, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is owned by company 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.