Kentucky Retirement Systems Sells 2,221 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Kentucky Retirement Systems decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,550 shares of the technology company’s stock after selling 2,221 shares during the period. Kentucky Retirement Systems’ holdings in CoStar Group were worth $2,154,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% in the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares during the period. Bleakley Financial Group LLC raised its position in shares of CoStar Group by 1.6% in the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after purchasing an additional 138 shares during the period. S.E.E.D. Planning Group LLC lifted its stake in shares of CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after buying an additional 172 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in shares of CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in CoStar Group by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,075 shares of the technology company’s stock valued at $2,600,000 after buying an additional 210 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 5.1 %

Shares of CoStar Group stock opened at $71.25 on Monday. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 161.94 and a beta of 0.82. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The stock’s 50-day moving average is $75.82 and its 200 day moving average is $77.33. 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 (NASDAQ:CSGP) last announced its quarterly earnings results 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 business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the previous year, the business posted $0.25 EPS. CoStar Group’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

CSGP has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. 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. Finally, Citigroup dropped their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.25.

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.