Nisa Investment Advisors LLC Sells 3,020 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Nisa Investment Advisors LLC reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,562 shares of the technology company’s stock after selling 3,020 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CoStar Group were worth $4,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Baker Tilly Wealth Management LLC increased its stake in CoStar Group by 27.7% in the third quarter. Baker Tilly Wealth Management LLC now owns 6,553 shares of the technology company’s stock valued at $494,000 after acquiring an additional 1,420 shares during the last quarter. KP Management LLC increased its stake in shares of CoStar Group by 84.4% in the 3rd quarter. KP Management LLC now owns 41,500 shares of the technology company’s stock valued at $3,131,000 after purchasing an additional 19,000 shares during the last quarter. Mattern Capital Management LLC raised its holdings in shares of CoStar Group by 25.1% during the 3rd quarter. Mattern Capital Management LLC now owns 7,690 shares of the technology company’s stock worth $580,000 after buying an additional 1,541 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of CoStar Group by 60.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after buying an additional 6,386 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in shares of CoStar Group by 9.0% during the 3rd quarter. Forsta AP Fonden now owns 82,000 shares of the technology company’s stock worth $6,186,000 after buying an additional 6,800 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP stock opened at $72.79 on Friday. The stock has a market capitalization of $29.84 billion, a PE ratio of 165.43 and a beta of 0.81. The business’s 50 day simple moving average is $76.31 and its 200 day simple moving average is $78.50. 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 one year low of $68.26 and a one year high of $100.38.

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

Analyst Ratings Changes

Several brokerages have commented on CSGP. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday. Citigroup lowered their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC lowered their price target on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Bank of America cut their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.25.

Insiders Place Their Bets

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value 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 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

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.