AMP Capital Investors Ltd trimmed its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 18.8% during the third quarter, Holdings Channel reports. The fund owned 17,463 shares of the technology company’s stock after selling 4,032 shares during the quarter. AMP Capital Investors Ltd’s holdings in CoStar Group were worth $7,295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nissay Asset Management Corp Japan ADV grew its holdings in CoStar Group by 4.6% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 2,857 shares of the technology company’s stock worth $1,179,000 after acquiring an additional 125 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in CoStar Group by 4.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,312 shares of the technology company’s stock worth $1,393,000 after acquiring an additional 145 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of CoStar Group by 9.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,997 shares of the technology company’s stock valued at $960,000 after purchasing an additional 166 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of CoStar Group by 6.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 2,819 shares of the technology company’s stock valued at $1,163,000 after purchasing an additional 169 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of CoStar Group by 14.3% in the 2nd quarter. CIBC Asset Management Inc now owns 1,467 shares of the technology company’s stock valued at $605,000 after purchasing an additional 184 shares during the last quarter. 95.89% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CSGP opened at $366.85 on Friday. CoStar Group Inc has a 52 week low of $283.11 and a 52 week high of $448.35. The firm has a market capitalization of $13.32 billion, a PE ratio of 94.79, a PEG ratio of 3.06 and a beta of 1.51.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 23rd. The technology company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.08 by $0.08. CoStar Group had a net margin of 17.61% and a return on equity of 7.63%. The company had revenue of $305.53 million for the quarter, compared to analyst estimates of $305.99 million. During the same period in the prior year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 23.4% on a year-over-year basis. On average, sell-side analysts anticipate that CoStar Group Inc will post 7.13 earnings per share for the current year.

In related news, Director Christopher J. Nassetta sold 571 shares of the business’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $349.67, for a total transaction of $199,661.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.47% of the stock is owned by insiders.

A number of equities research analysts have recently commented on the stock. Needham & Company LLC upped their price objective on shares of CoStar Group from $475.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, September 12th. BidaskClub lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 8th. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $471.00 price objective on the stock in a research note on Monday, October 1st. Finally, ValuEngine lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $451.44.

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CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

Further Reading: Why is insider trading harmful?

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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