Victory Capital Management Inc. Has $49.56 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Victory Capital Management Inc. trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 656,936 shares of the technology company’s stock after selling 86,254 shares during the period. Victory Capital Management Inc. owned about 0.16% of CoStar Group worth $49,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSGP. Empowered Funds LLC raised its holdings in shares of CoStar Group by 54.7% during the first quarter. Empowered Funds LLC now owns 6,874 shares of the technology company’s stock worth $664,000 after acquiring an additional 2,431 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of CoStar Group during the first quarter worth $217,000. Twin Tree Management LP acquired a new stake in shares of CoStar Group during the first quarter worth $802,000. Tocqueville Asset Management L.P. acquired a new stake in shares of CoStar Group during the first quarter worth $301,000. Finally, Nicolet Advisory Services LLC raised its holdings in shares of CoStar Group by 29.2% during the first quarter. Nicolet Advisory Services LLC now owns 6,256 shares of the technology company’s stock worth $599,000 after acquiring an additional 1,413 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $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. 1.57% of the stock is currently owned by insiders.

CoStar Group Stock Performance

Shares of CSGP stock opened at $71.25 on Friday. The company has a market capitalization of $29.21 billion, a price-to-earnings ratio of 166.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a 50-day simple moving average of $75.95 and a 200 day simple moving average of $77.66. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC lowered their price target on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group lowered their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America lowered their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

About CoStar Group

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.