Mutual of America Capital Management LLC Sells 3,328 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• Mutual of America Capital Management LLC has decreased its holdings in CoStar Group by 5.8%, now owning 54,447 shares valued at approximately $4.31 million.
• Insider Frederick G. Saint sold 25,000 shares for approximately $2.33 million, reducing his ownership by 7.26% and leaving him with 319,539 shares.
• Recent analyst reports have raised price targets for CoStar Group, with Citigroup increasing its target from $91.00 to $100.00 and a majority of analysts rating the stock as a "Moderate Buy."

Mutual of America Capital Management LLC decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,447 shares of the technology company's stock after selling 3,328 shares during the quarter. Mutual of America Capital Management LLC's holdings in CoStar Group were worth $4,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CSGP. Arrowstreet Capital Limited Partnership boosted its position in CoStar Group by 117.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,577 shares of the technology company's stock worth $1,759,000 after acquiring an additional 13,299 shares during the period. Cerity Partners LLC raised its stake in shares of CoStar Group by 185.9% during the 4th quarter. Cerity Partners LLC now owns 41,602 shares of the technology company's stock worth $3,021,000 after purchasing an additional 27,049 shares in the last quarter. Invesco Ltd. raised its stake in shares of CoStar Group by 13.0% during the 4th quarter. Invesco Ltd. now owns 4,234,995 shares of the technology company's stock worth $303,183,000 after purchasing an additional 486,045 shares in the last quarter. FIL Ltd raised its stake in shares of CoStar Group by 79.2% during the 4th quarter. FIL Ltd now owns 197,425 shares of the technology company's stock worth $14,134,000 after purchasing an additional 87,249 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of CoStar Group by 5.3% during the 4th quarter. Bank of Nova Scotia now owns 50,116 shares of the technology company's stock worth $3,588,000 after purchasing an additional 2,537 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Price Performance

CSGP stock traded down $4.04 during trading on Tuesday, hitting $88.46. The company had a trading volume of 3,890,121 shares, compared to its average volume of 3,187,771. The company has a fifty day moving average price of $85.34 and a two-hundred day moving average price of $79.98. 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 cap of $37.47 billion, a P/E ratio of 353.83, a P/E/G ratio of 4.60 and a beta of 0.85. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43.

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

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 value of $2,330,750.00. Following the sale, the insider owned 319,539 shares of the company's stock, 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 hyperlink. 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 completion of the transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CSGP shares. Bank of America started coverage on CoStar Group in a research note on Friday, May 30th. They set a "neutral" rating and a $79.00 price target for the company. Stephens raised CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a research note on Monday, June 16th. 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. BMO Capital Markets raised their price objective on CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC lifted their price target on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.