New Age Alpha Advisors LLC Sells 15,683 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• New Age Alpha Advisors LLC reduced its stake in CoStar Group by 24%, holding 49,612 shares worth approximately $3.93 million after selling 15,683 shares during the first quarter.
• CoStar Group reported a 15.2% increase in revenue year-over-year, reaching $781.3 million, and exceeded earnings estimates with an EPS of $0.17 as of July 22nd.
• Several analysts have upgraded their target prices for CoStar Group, with ratings ranging from "strong buy" to "underweight", and a consensus rating of "Moderate Buy" with an average target price of $93.25.

New Age Alpha Advisors LLC trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,612 shares of the technology company's stock after selling 15,683 shares during the period. New Age Alpha Advisors LLC's holdings in CoStar Group were worth $3,931,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Ruffer LLP boosted its position in CoStar Group by 66.7% during the first quarter. Ruffer LLP now owns 270,412 shares of the technology company's stock valued at $21,425,000 after buying an additional 108,233 shares during the period. Geneva Capital Management LLC boosted its position in CoStar Group by 3.2% during the first quarter. Geneva Capital Management LLC now owns 403,205 shares of the technology company's stock valued at $31,946,000 after buying an additional 12,534 shares during the period. Weitz Investment Management Inc. boosted its position in CoStar Group by 2.4% during the first quarter. Weitz Investment Management Inc. now owns 911,600 shares of the technology company's stock valued at $72,226,000 after buying an additional 21,725 shares during the period. ING Groep NV boosted its position in CoStar Group by 193.0% during the first quarter. ING Groep NV now owns 182,752 shares of the technology company's stock valued at $14,479,000 after buying an additional 120,376 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of CoStar Group by 1.7% during the first quarter. Scotia Capital Inc. now owns 31,243 shares of the technology company's stock worth $2,475,000 after purchasing an additional 516 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Robert W. Baird increased their target price on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their target price on shares of CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 target price for the company in a report on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Down 0.9%

Shares of NASDAQ CSGP traded down $0.84 on Friday, reaching $94.50. 2,429,437 shares of the company's stock traded hands, compared to its average volume of 3,001,959. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43. The business's 50 day simple moving average is $84.51 and its two-hundred day simple moving average is $79.63. The company has a market cap of $40.03 billion, a price-to-earnings ratio of 378.00, a price-to-earnings-growth ratio of 4.64 and a beta of 0.85. 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 for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. During the same quarter last year, the firm earned $0.15 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction 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 approximately $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider directly owned 319,539 shares of the company's stock, valued at $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 currently owned by company insiders.

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.