Deutsche Bank AG Has $97.39 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Deutsche Bank AG trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 22.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,229,141 shares of the technology company's stock after selling 360,856 shares during the period. Deutsche Bank AG owned approximately 0.29% of CoStar Group worth $97,385,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in CoStar Group during the 1st quarter worth approximately $29,000. Bayforest Capital Ltd bought a new position in shares of CoStar Group during the 1st quarter worth approximately $29,000. Cullen Frost Bankers Inc. grew its stake in shares of CoStar Group by 137.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after acquiring an additional 235 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of CoStar Group during the 1st quarter worth approximately $33,000. Finally, Close Asset Management Ltd bought a new position in shares of CoStar Group during the 1st quarter worth approximately $41,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Needham & Company LLC raised their target price on shares of CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 target price for the company in a research note on Monday, June 16th. Finally, Citigroup raised their target price on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.25.

Insider Transactions at CoStar Group

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

CoStar Group Stock Performance

Shares of CoStar Group stock traded down $4.04 during trading on Tuesday, reaching $88.46. The company's stock had a trading volume of 5,088,429 shares, compared to its average volume of 3,028,937. The business's 50-day moving average price is $85.59 and its 200-day moving average price is $80.04. The firm has a market cap of $37.48 billion, a PE ratio of 353.84, a P/E/G ratio of 4.50 and a beta of 0.85. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its 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. The company had revenue of $781.30 million during the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. CoStar Group's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 earnings per share. Equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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.