Asset Management One Co. Ltd. Sells 165,517 Shares of CoStar Group, Inc. $CSGP

Key Points

• Asset Management One cut its CoStar Group stake by 89.5% in the third quarter, selling 165,517 shares and retaining 19,404 shares valued at about $532,000.
• Analyst views are mixed, with a consensus rating of Hold and an average price target of $39.11; ten analysts rate the stock Buy, eight Hold, and two Sell.
• CoStar beat quarterly earnings and revenue estimates, reporting EPS of $0.38 and revenue of $952 million; revenue rose 14.1% year over year.

Asset Management One Co. Ltd. lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 89.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,404 shares of the technology company's stock after selling 165,517 shares during the quarter. Asset Management One Co. Ltd.'s holdings in CoStar Group were worth $532,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC boosted its stake in CoStar Group by 43.6% during the 3rd quarter. Park Avenue Securities LLC now owns 34,698 shares of the technology company's stock valued at $951,000 after purchasing an additional 10,537 shares during the period. Signaturefd LLC lifted its holdings in shares of CoStar Group by 262.4% during the third quarter. Signaturefd LLC now owns 9,875 shares of the technology company's stock worth $271,000 after buying an additional 7,150 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of CoStar Group in the third quarter valued at approximately $222,000. Gibbs Wealth Management boosted its position in shares of CoStar Group by 3.2% in the third quarter. Gibbs Wealth Management now owns 10,125 shares of the technology company's stock valued at $277,000 after acquiring an additional 311 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of CoStar Group by 32.2% in the third quarter. Sterling Capital Management LLC now owns 14,731 shares of the technology company's stock worth $404,000 after acquiring an additional 3,586 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $40.00 target price on shares of CoStar Group in a research note on Wednesday, October 28th. BTIG Research decreased their price objective on CoStar Group from $42.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, October 28th. Robert W. Baird set a $34.00 price objective on CoStar Group and gave the company a "neutral" rating in a research report on Tuesday, July 14th. William Blair lowered CoStar Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. reduced their target price on CoStar Group from $52.00 to $44.00 and set an "overweight" rating for the company in a research report on Wednesday, October 28th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, CoStar Group currently has a consensus rating of "Hold" and a consensus price target of $39.11.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 4,788 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $30.78, for a total transaction of $147,374.64. Following the transaction, the chief accounting officer owned 18,822 shares of the company's stock, valued at approximately $579,341.16. This represents a 20.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is owned by company insiders.

CoStar Group Stock Down 1.6%

Shares of NASDAQ:CSGP opened at $31.32 on Wednesday. The company has a market capitalization of $12.60 billion, a PE ratio of 33.15, a P/E/G ratio of 0.81 and a beta of 0.79. CoStar Group, Inc. has a 52 week low of $25.89 and a 52 week high of $70.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.32. The company's fifty day moving average is $30.29 and its 200-day moving average is $36.64.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. The company had revenue of $952.00 million during the quarter, compared to analyst estimates of $945.82 million. During the same quarter last year, the business posted $0.23 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. Equities research analysts predict that CoStar Group, Inc. will post 1.12 earnings per share for the current fiscal year.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics, and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes, and distributes property and market data to real estate professionals, investors, lenders, and other businesses.

Its brands and services include CoStar, which offers commercial real estate data and research; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.

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