CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC reduced its stake in CoStar Group, Inc. by 1.8% to 153,551 shares, valued at approximately $12.17 million, as reported in a recent 13F filing.
• CoStar Group reported earnings of $0.17 per share for the recent quarter, surpassing the analysts' consensus estimate of $0.14 and marking a 15.2% year-over-year revenue increase.
• Analysts have revised their price targets for CoStar Group, with several firms increasing their target price, now averaging around $93.25 and classifying the stock as a "Moderate Buy."

Townsquare Capital LLC cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,551 shares of the technology company's stock after selling 2,857 shares during the period. Townsquare Capital LLC's holdings in CoStar Group were worth $12,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSGP. Wayfinding Financial LLC purchased a new stake in shares of CoStar Group in the first quarter worth approximately $29,000. Bayforest Capital Ltd purchased a new stake in shares of CoStar Group in the first quarter worth approximately $29,000. Cullen Frost Bankers Inc. raised its holdings in shares of CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after buying an additional 235 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CoStar Group in the first quarter worth approximately $33,000. Finally, Close Asset Management Ltd purchased a new stake in shares of CoStar Group in the first quarter worth approximately $41,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Down 4.4%

NASDAQ CSGP traded down $4.04 during midday trading on Tuesday, hitting $88.46. 5,088,429 shares of the company traded hands, compared to its average volume of 3,200,069. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The company has a market cap of $37.48 billion, a PE ratio of 353.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.85. The company's 50-day simple moving average is $85.34 and its 200-day simple moving average is $79.98. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43.

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 the consensus estimate of $0.14 by $0.03. The business had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. The business's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities reiterated a "market outperform" rating and issued a $85.00 price target 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 report on Wednesday, July 23rd. Needham & Company LLC raised their price objective on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, BMO Capital Markets raised their price objective on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Two investment 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, CoStar Group has a consensus rating of "Moderate Buy" and an average target price of $93.25.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm'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 sale, the chief accounting officer owned 25,771 shares of the company's stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the firm'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 completion of the sale, the insider directly 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 disclosure for this sale can be found here. 1.09% of the stock is currently owned by company insiders.

CoStar Group 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.