Chevy Chase Trust Holdings LLC Trims Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Chevy Chase Trust Holdings LLC lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 222,449 shares of the technology company’s stock after selling 484 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in CoStar Group were worth $16,782,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in CoStar Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after acquiring an additional 124,761 shares during the period. Vulcan Value Partners LLC lifted its holdings in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after purchasing an additional 76,916 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock worth $174,861,000 after purchasing an additional 341,046 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CoStar Group by 0.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,096,255 shares of the technology company’s stock worth $158,141,000 after buying an additional 9,999 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CSGP shares. Citigroup dropped their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. BMO Capital Markets cut their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insiders Place Their Bets

In other news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The stock was acquired at an average cost 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

NASDAQ CSGP opened at $80.15 on Wednesday. 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 firm has a market capitalization of $32.86 billion, a P/E ratio of 182.16 and a beta of 0.83. The company has a 50-day moving average price of $75.99 and a 200-day moving average price of $76.39. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. Equities research analysts anticipate 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.