CoStar Group, Inc. $CSGP Shares Sold by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management cut its CoStar Group stake by 58.7% in the first quarter, selling 145,469 shares and retaining 102,490 shares valued at about $4.1 million. Institutional investors collectively own 96.6% of the company.
• CoStar reported quarterly EPS of $0.23, beating estimates of $0.18, while revenue rose 22.5% year over year to $897 million. The company’s shares were recently trading near $29.17, close to their 52-week low.
• CEO Andrew Florance bought 71,430 shares for roughly $2.5 million, while analysts maintained an overall “Moderate Buy” rating with a consensus price target of $51.50, despite several recent target reductions.

Ashford Capital Management Inc. lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,490 shares of the technology company's stock after selling 145,469 shares during the period. Ashford Capital Management Inc.'s holdings in CoStar Group were worth $4,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Reflection Asset Management acquired a new stake in CoStar Group in the fourth quarter valued at approximately $27,000. Lloyd Advisory Services LLC. purchased a new stake in shares of CoStar Group in the fourth quarter valued at approximately $29,000. DV Equities LLC acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $40,000. IFP Advisors Inc raised its stake in shares of CoStar Group by 329.4% during the 4th quarter. IFP Advisors Inc now owns 614 shares of the technology company's stock worth $41,000 after buying an additional 471 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of CoStar Group by 25,650.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 515 shares of the technology company's stock valued at $43,000 after buying an additional 513 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Trading Up 5.5%

Shares of CSGP stock opened at $29.17 on Tuesday. CoStar Group, Inc. has a fifty-two week low of $26.68 and a fifty-two week high of $97.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.20 and a current ratio of 2.20. The stock's fifty day moving average is $30.90 and its two-hundred day moving average is $40.87. The firm has a market capitalization of $11.91 billion, a P/E ratio of 486.25, a PEG ratio of 0.71 and a beta of 0.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, April 28th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.73 million. CoStar Group had a net margin of 0.74% and a return on equity of 2.90%. The company's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. Research analysts expect that CoStar Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance purchased 71,430 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average cost of $35.20 per share, for a total transaction of $2,514,336.00. Following the completion of the transaction, the chief executive officer owned 1,722,865 shares of the company's stock, valued at $60,644,848. The trade was a 4.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $82.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Stephens reduced their price objective on shares of CoStar Group from $50.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, May 4th. Citigroup decreased their price objective on shares of CoStar Group from $100.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Robert W. Baird set a $34.00 target price on shares of CoStar Group and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Finally, Benchmark initiated coverage on shares of CoStar Group in a research note on Thursday, June 4th. They set a "buy" rating and a $45.00 target price for the company. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus price target of $51.50.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar's offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.

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