Motley Fool Asset Management LLC Lowers Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Motley Fool Asset Management LLC reduced its stake in CoStar Group by 25.5% in the first quarter, holding $4.91 million worth of shares after selling 21,259 shares.
• CoStar Group's stock had a 0.9% decrease, with a market cap of $40.03 billion and a recent earnings per share (EPS) of $0.17, exceeding estimates.
• Several institutional investors have recently adjusted their positions in CoStar Group, with 96.60% of the company's stock now owned by institutional investors and hedge funds.

Motley Fool Asset Management LLC lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,983 shares of the technology company's stock after selling 21,259 shares during the period. Motley Fool Asset Management LLC's holdings in CoStar Group were worth $4,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of CoStar Group by 42.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company's stock valued at $96,000 after buying an additional 360 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in CoStar Group during the first quarter valued at approximately $221,000. PFG Investments LLC acquired a new position in CoStar Group in the first quarter valued at approximately $234,000. Golden State Wealth Management LLC lifted its holdings in CoStar Group by 6.3% in the first quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock valued at $268,000 after acquiring an additional 200 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in CoStar Group in the 1st quarter worth approximately $4,835,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

CSGP has been the subject of several recent research reports. Bank of America initiated coverage on shares of CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 target price for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Citigroup raised their target price on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Price Performance

Shares of NASDAQ:CSGP traded down $4.04 during trading on Tuesday, reaching $88.46. The stock had a trading volume of 5,088,429 shares, compared to its average volume of 3,028,937. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.43. The stock has a market cap of $37.48 billion, a PE ratio of 353.84, a PEG ratio of 4.50 and a beta of 0.85. The business has a fifty day moving average price of $85.59 and a 200-day moving average price of $80.04.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share 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 company had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. During the same quarter last year, the firm posted $0.15 EPS. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group Company 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.