Pathstone Holdings LLC Has $2.71 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Pathstone Holdings LLC lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 35,859 shares of the technology company’s stock after selling 775 shares during the period. Pathstone Holdings LLC’s holdings in CoStar Group were worth $2,705,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group during the 3rd quarter worth about $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group in the 2nd quarter valued at approximately $49,000. Quarry LP bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $54,000. Rothschild Investment LLC acquired a new stake in shares of CoStar Group during the 2nd quarter worth approximately $73,000. Finally, Blue Trust Inc. increased its position in shares of CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after purchasing an additional 898 shares during the period. Institutional investors own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated 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 transaction, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased 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 directly owns 1,263,098 shares in the company, 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. 1.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

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 Monday, October 28th. JMP Securities reiterated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. BMO Capital Markets dropped their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. 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, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Up 0.6 %

Shares of NASDAQ CSGP opened at $80.28 on Tuesday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm’s 50-day simple moving average is $75.54 and its 200 day simple moving average is $76.71. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 182.45 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last released 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. 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 for the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the firm earned $0.25 earnings per share. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

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.