CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,464 shares of the technology company’s stock after selling 1,037 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CoStar Group were worth $3,807,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Avantax Advisory Services Inc. purchased a new position in CoStar Group during the 1st quarter worth approximately $217,000. Covestor Ltd boosted its stake in shares of CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after buying an additional 211 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in CoStar Group by 34.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 15,301 shares of the technology company’s stock worth $1,478,000 after acquiring an additional 3,892 shares during the period. Bessemer Group Inc. raised its position in CoStar Group by 73.0% during the first quarter. Bessemer Group Inc. now owns 32,119 shares of the technology company’s stock valued at $3,102,000 after acquiring an additional 13,558 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in CoStar Group in the 1st quarter worth approximately $31,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CSGP shares. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Finally, Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Stock Performance

CSGP opened at $76.99 on Friday. The firm has a market capitalization of $31.56 billion, a PE ratio of 174.98 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 twelve month low of $68.26 and a twelve month high of $100.38. The firm’s 50-day moving average price is $75.47 and its 200 day moving average price is $77.07.

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