CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 621,900 shares of the technology company’s stock after selling 6,509 shares during the quarter. Bank of Montreal Can’s holdings in CoStar Group were worth $46,649,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSGP. Vulcan Value Partners LLC increased its holdings in shares of CoStar Group by 90.1% during the 2nd 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 in the last quarter. Select Equity Group L.P. purchased a new position in shares of CoStar Group during the 2nd quarter valued at approximately $60,761,000. Renaissance Technologies LLC purchased a new position in shares of CoStar Group during the 2nd quarter valued at approximately $46,692,000. Jupiter Asset Management Ltd. purchased a new position in shares of CoStar Group during the 2nd quarter valued at approximately $34,987,000. Finally, Icon Wealth Advisors LLC increased its holdings in shares of CoStar Group by 8,314.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after purchasing an additional 405,062 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly 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. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Trading Up 2.6 %

Shares of CSGP opened at $81.97 on Thursday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-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 fifty day moving average is $75.72 and its two-hundred day moving average is $76.68. The stock has a market cap of $33.60 billion, a PE ratio of 186.30 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm 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 company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CSGP shares. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Finally, BMO Capital Markets cut their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.