CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL has reduced its holdings in CoStar Group, Inc. by 14.5%, now owning approximately 2.9 million shares valued at around $230 million.
• CoStar Group reported $0.17 EPS in their latest quarterly earnings, exceeding analyst expectations of $0.14, with a revenue of $781.3 million, indicating a 15.2% year-over-year increase.
• Analysts have an average rating of "Moderate Buy" for CoStar Group, with a consensus target price of $93.25, reflecting various upgrades from brokerage firms including a price target increase to $105.00 from Robert W. Baird.

Blair William & Co. IL cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,903,518 shares of the technology company's stock after selling 490,433 shares during the period. Blair William & Co. IL owned approximately 0.69% of CoStar Group worth $230,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSGP. American Century Companies Inc. boosted its stake in CoStar Group by 3.4% during the fourth quarter. American Century Companies Inc. now owns 61,350 shares of the technology company's stock valued at $4,392,000 after buying an additional 2,041 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in CoStar Group by 117.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,577 shares of the technology company's stock valued at $1,759,000 after buying an additional 13,299 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in CoStar Group by 9.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 18,176 shares of the technology company's stock valued at $1,301,000 after buying an additional 1,644 shares during the last quarter. OneAscent Financial Services LLC bought a new position in CoStar Group during the fourth quarter valued at approximately $212,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after buying an additional 402 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Buying and Selling at CoStar Group

In related news, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the transaction, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. The trade was a 7.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the transaction, the chief accounting officer owned 25,771 shares in the company, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.09% of the stock is owned by insiders.

CoStar Group Stock Down 0.6%

Shares of NASDAQ:CSGP traded down $0.54 on Tuesday, reaching $96.29. The company had a trading volume of 383,386 shares, compared to its average volume of 3,189,498. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The firm's 50 day simple moving average is $83.21 and its 200-day simple moving average is $79.25. The firm has a market capitalization of $40.79 billion, a PE ratio of 385.13, a PEG ratio of 4.61 and a beta of 0.85. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The business had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. During the same period last year, the business posted $0.15 EPS. The business's revenue was up 15.2% compared to the same quarter last year. As a group, analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price objective (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Needham & Company LLC raised their price objective on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Robert W. Baird raised their price objective on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

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.