Victory Capital Management Inc. Sells 86,254 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Victory Capital Management Inc. lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and 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.’s holdings in CoStar Group were worth $49,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its position 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 purchasing an additional 2,431 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in CoStar Group during the 1st quarter worth approximately $217,000. Twin Tree Management LP acquired a new position in CoStar Group during the 1st quarter worth approximately $802,000. Tocqueville Asset Management L.P. acquired a new position in CoStar Group during the 1st quarter worth approximately $301,000. Finally, Nicolet Advisory Services LLC increased its position in CoStar Group by 29.2% during the 1st quarter. Nicolet Advisory Services LLC now owns 6,256 shares of the technology company’s stock worth $599,000 after purchasing an additional 1,413 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price objective 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. JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Trading Down 5.1 %

NASDAQ:CSGP opened at $71.25 on Friday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a 50-day moving average price of $75.95 and a two-hundred day moving average price of $77.66. 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 firm has a market cap of $29.21 billion, a price-to-earnings ratio of 166.55 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last issued 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. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. CoStar Group’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.25 earnings per share. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction dated 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 purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group 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.