State of Alaska Department of Revenue Has $3.59 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

State of Alaska Department of Revenue trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 55.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,541 shares of the technology company’s stock after selling 59,690 shares during the period. State of Alaska Department of Revenue’s holdings in CoStar Group were worth $3,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of CoStar Group in the first quarter valued at about $31,000. RiverPark Advisors LLC acquired a new position in CoStar Group during the first quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group during the second quarter worth approximately $49,000. Covestor Ltd increased its position in CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after buying an additional 211 shares during the last quarter. Finally, Quarry LP acquired a new position in CoStar Group during the second quarter worth approximately $54,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was bought 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 represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction 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 currently owned by company insiders.

CoStar Group Stock Up 0.3 %

Shares of CSGP opened at $73.46 on Thursday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a market capitalization of $30.12 billion, a price-to-earnings ratio of 166.96 and a beta of 0.81. 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 stock has a fifty day moving average of $76.37 and a 200-day moving average of $78.54.

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

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of recent analyst reports. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday. Needham & Company LLC reduced their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. reduced their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Robert W. Baird reduced their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

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.