Raymond James Trust N.A. Sells 622 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Raymond James Trust N.A. cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,718 shares of the technology company’s stock after selling 622 shares during the period. Raymond James Trust N.A.’s holdings in CoStar Group were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after buying an additional 135 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of CoStar Group by 1.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after acquiring an additional 138 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after purchasing an additional 161 shares during the last quarter. S.E.E.D. Planning Group LLC boosted its position in CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in CoStar Group by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after purchasing an additional 188 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $81.97 on Thursday. The company has a 50 day simple moving average of $75.72 and a two-hundred day simple moving average of $76.68. The stock has a market cap of $33.60 billion, a price-to-earnings ratio of 186.30 and a beta of 0.82. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

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

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction 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 sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Tuesday, November 19th. Citigroup decreased their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, JMP Securities reiterated 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.