Fifth Third Wealth Advisors LLC Sells 884 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Fifth Third Wealth Advisors LLC lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 20.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,428 shares of the technology company’s stock after selling 884 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in CoStar Group were worth $245,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CSGP. ORG Partners LLC raised its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Quarry LP bought a new stake in shares of CoStar Group during the second quarter valued at approximately $54,000. Brooklyn Investment Group acquired a new position in shares of CoStar Group in the third quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in CoStar Group in the second quarter worth $104,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Up 0.6 %

CSGP stock opened at $73.85 on Friday. The business has a fifty day moving average price of $74.74 and a 200 day moving average price of $75.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market capitalization of $30.28 billion, a price-to-earnings ratio of 167.84 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share 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 analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday. 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. William Blair restated an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.92.

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.