Raymond James & Associates Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Raymond James & Associates lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 617,113 shares of the technology company’s stock after selling 9,908 shares during the quarter. Raymond James & Associates’ holdings in CoStar Group were worth $59,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. boosted its stake in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after buying an additional 173 shares during the last quarter. Riverview Trust Co bought a new position in shares of CoStar Group during the 1st quarter valued at approximately $35,000. Pinnacle Bancorp Inc. purchased a new position in shares of CoStar Group in the fourth quarter valued at $37,000. Connectus Wealth LLC increased its position in CoStar Group by 915.0% in the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in CoStar Group during the fourth quarter valued at $60,000. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CSGP shares. Stephens restated an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. Needham & Company LLC upped their price objective on CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Bank of America lifted their target price on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Robert W. Baird raised their price target on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Finally, BTIG Research assumed coverage on shares of CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $102.46.

Insider Transactions at CoStar Group

In other news, CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the sale, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The disclosure for this sale can be found here. Corporate insiders own 1.58% of the company’s stock.

CoStar Group Trading Up 1.6 %

CSGP traded up $1.47 on Friday, reaching $91.23. 1,244,624 shares of the company traded hands, compared to its average volume of 2,229,142. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $37.25 billion, a P/E ratio of 124.97, a price-to-earnings-growth ratio of 10.05 and a beta of 0.84. The firm has a fifty day simple moving average of $90.60 and a two-hundred day simple moving average of $85.10. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. CoStar Group’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current year.

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.