Atria Investments Inc Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

Atria Investments Inc lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 6.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 30,981 shares of the technology company’s stock after selling 2,090 shares during the quarter. Atria Investments Inc’s holdings in CoStar Group were worth $2,337,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CSGP. Empowered Funds LLC increased its stake in CoStar Group by 54.7% in the 1st quarter. Empowered Funds LLC now owns 6,874 shares of the technology company’s stock worth $664,000 after buying an additional 2,431 shares during the period. Avantax Advisory Services Inc. bought a new position in CoStar Group during the 1st quarter worth about $217,000. Bleakley Financial Group LLC grew its holdings in CoStar Group by 7.6% during the 1st quarter. Bleakley Financial Group LLC now owns 8,579 shares of the technology company’s stock worth $829,000 after acquiring an additional 608 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in CoStar Group during the 1st quarter worth about $28,446,000. Finally, Twin Tree Management LP bought a new position in CoStar Group during the 1st quarter worth about $802,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $75.04 on Friday. The firm has a market capitalization of $30.76 billion, a P/E ratio of 172.21 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $75.99 and a 200 day moving average price of $77.68. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

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

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Robert W. Baird dropped their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Finally, Needham & Company LLC lowered their price target on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.25.

Insiders Place Their Bets

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by 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.