Entropy Technologies LP Sells 985 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Entropy Technologies LP lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 36,761 shares of the technology company’s stock after selling 985 shares during the quarter. Entropy Technologies LP’s holdings in CoStar Group were worth $2,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CSGP. Empowered Funds LLC raised its stake in CoStar Group by 54.7% during the 1st 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. Concurrent Investment Advisors LLC lifted its stake in shares of CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after buying an additional 112 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of CoStar Group by 8.2% during the 1st quarter. QRG Capital Management Inc. now owns 16,222 shares of the technology company’s stock valued at $1,567,000 after buying an additional 1,225 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in CoStar Group by 16.1% in the 1st quarter. Russell Investments Group Ltd. now owns 401,314 shares of the technology company’s stock worth $38,750,000 after buying an additional 55,763 shares during the period. Finally, Avantax Advisory Services Inc. purchased a new stake in CoStar Group in the 1st quarter worth $217,000. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CSGP. Needham & Company LLC dropped their price objective on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. 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. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $93.25.

Insiders Place Their Bets

In other 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 value of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction on 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 sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

CoStar Group Stock Down 2.0 %

Shares of NASDAQ:CSGP opened at $75.87 on Tuesday. The company has a market cap of $31.10 billion, a price-to-earnings ratio of 172.43 and a beta of 0.82. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $76.06 and a 200 day moving average price of $77.92.

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

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.