Crossmark Global Holdings Inc. Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

Crossmark Global Holdings Inc. trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,918 shares of the technology company’s stock after selling 306 shares during the period. Crossmark Global Holdings Inc.’s holdings in CoStar Group were worth $1,653,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CSGP. Vanguard Group Inc. raised its position in CoStar Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after acquiring an additional 541,700 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after purchasing an additional 1,773,564 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after purchasing an additional 124,761 shares during the period. Vulcan Value Partners LLC boosted its holdings in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after buying an additional 1,961,917 shares in the last quarter. Finally, Capital Research Global Investors grew its position in CoStar Group by 9.9% during the first quarter. Capital Research Global Investors now owns 2,652,774 shares of the technology company’s stock valued at $256,258,000 after buying an additional 238,461 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Up 0.5 %

CSGP opened at $75.77 on Thursday. The firm has a market capitalization of $31.06 billion, a price-to-earnings ratio of 172.66 and a beta of 0.82. The company’s 50 day simple moving average is $76.02 and its two-hundred day simple moving average is $77.70. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the business earned $0.25 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSGP. Needham & Company LLC lowered their target price on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JPMorgan Chase & Co. cut their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods decreased their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

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.