Janus Henderson Group PLC Lowers Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Janus Henderson Group PLC cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 45.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,627,229 shares of the technology company’s stock after selling 5,487,301 shares during the period. Janus Henderson Group PLC’s holdings in CoStar Group were worth $499,958,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the 3rd quarter valued at $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group in the 2nd quarter worth $49,000. Quarry LP acquired a new position in CoStar Group in the 2nd quarter worth $54,000. Rothschild Investment LLC acquired a new position in CoStar Group in the 2nd quarter worth $73,000. Finally, Blue Trust Inc. lifted its holdings in CoStar Group by 493.4% in the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after buying an additional 898 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Down 1.6 %

CSGP stock opened at $80.07 on Tuesday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The firm has a market cap of $32.83 billion, a PE ratio of 181.98 and a beta of 0.83. The firm has a 50 day simple moving average of $75.91 and a 200 day simple moving average of $76.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

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 the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. Equities research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

CSGP has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup dropped their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. BMO Capital Markets dropped their target price 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Activity at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were 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 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. 1.57% of the stock is owned by 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.