Proficio Capital Partners LLC Reduces Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Proficio Capital Partners LLC lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 7.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,619 shares of the technology company’s stock after selling 307 shares during the period. Proficio Capital Partners LLC’s holdings in CoStar Group were worth $273,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of CoStar Group in the first quarter valued at $31,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group in the second quarter valued at $49,000. Covestor Ltd increased its position in shares of CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after buying an additional 211 shares in the last quarter. Quarry LP purchased a new position in shares of CoStar Group in the second quarter valued at $54,000. Finally, Rothschild Investment LLC purchased a new position in shares of CoStar Group in the second quarter valued at $73,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CSGP. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Robert W. Baird decreased their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Citigroup decreased their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

CoStar Group stock opened at $77.39 on Monday. The stock’s 50-day moving average is $76.06 and its 200-day moving average is $78.02. The company has a market cap of $31.73 billion, a price-to-earnings ratio of 175.89 and a beta of 0.82. 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, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for 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%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. Equities analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

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.