CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Scout Investments Inc.

Scout Investments Inc. lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 15.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 147,751 shares of the technology company’s stock after selling 27,201 shares during the period. Scout Investments Inc.’s holdings in CoStar Group were worth $13,965,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CSGP. B. Riley Wealth Advisors Inc. lifted its stake in shares of CoStar Group by 32.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,087 shares of the technology company’s stock worth $391,000 after purchasing an additional 1,254 shares during the period. Wedmont Private Capital lifted its stake in shares of CoStar Group by 7.2% during the 4th quarter. Wedmont Private Capital now owns 3,459 shares of the technology company’s stock worth $287,000 after purchasing an additional 231 shares during the period. Nordea Investment Management AB lifted its stake in shares of CoStar Group by 2.3% during the 4th quarter. Nordea Investment Management AB now owns 26,760 shares of the technology company’s stock worth $2,341,000 after purchasing an additional 605 shares during the period. Raymond James Trust N.A. raised its position in shares of CoStar Group by 8.0% in the 4th quarter. Raymond James Trust N.A. now owns 4,308 shares of the technology company’s stock worth $376,000 after buying an additional 318 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of CoStar Group in the 4th quarter worth $238,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 1.3 %

Shares of CoStar Group stock traded down $0.99 during trading hours on Friday, hitting $74.28. 1,100,412 shares of the company’s stock traded hands, compared to its average volume of 2,251,860. The stock has a 50 day simple moving average of $78.27 and a 200-day simple moving average of $84.29. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $30.33 billion, a PE ratio of 101.64, a PEG ratio of 11.31 and a beta of 0.81. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. Equities research analysts anticipate that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

CSGP has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $109.00 target price on shares of CoStar Group in a research report on Friday, June 7th. Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of CoStar Group in a research report on Tuesday, June 18th. Finally, BMO Capital Markets raised their price objective on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $101.77.

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.