CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Motley Fool Wealth Management LLC

Key Points

• Motley Fool Wealth Management LLC reduced its stake in CoStar Group, Inc. by 8.0%, selling 28,864 shares and now holding a total of 330,575 shares, making it the firm's 17th largest position.
• Insider Frederick G. Saint sold 25,000 shares at an average price of $93.23, resulting in a 7.26% decrease in his ownership, while CAO Cynthia Cammett Cann also sold 2,033 shares.
• Analysts generally have a Moderate Buy rating on CoStar Group, with a consensus target price of $93.25, despite varying ratings from different firms on this stock.

Motley Fool Wealth Management LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,575 shares of the technology company's stock after selling 28,864 shares during the period. CoStar Group accounts for 1.5% of Motley Fool Wealth Management LLC's holdings, making the stock its 17th biggest holding. Motley Fool Wealth Management LLC owned about 0.08% of CoStar Group worth $26,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised 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 purchasing an additional 360 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter valued at about $221,000. PFG Investments LLC bought a new stake in shares of CoStar Group in the 1st quarter valued at about $234,000. Golden State Wealth Management LLC raised its holdings in shares of CoStar Group by 6.3% in the 1st quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock valued at $268,000 after purchasing an additional 200 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of CoStar Group in the 1st quarter valued at about $4,835,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Down 4.4%

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. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.43. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $37.48 billion, a P/E ratio of 353.84, a PEG ratio of 4.50 and a beta of 0.85. The firm's 50-day simple moving average is $85.59 and its 200 day simple moving average is $80.04.

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

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 2,033 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the transaction, the chief accounting officer owned 25,771 shares in the company, valued at $2,392,837.35. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction 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 trade represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CSGP shares. Bank of America started coverage on shares of CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price target for the company. Citigroup boosted their price target on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a report on Monday, June 16th. Needham & Company LLC boosted their price target on shares of CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Two research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $93.25.

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.