Private Trust Co. NA Sells 151 Shares of CoStar Group, Inc. $CSGP

Private Trust Co. NA cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 24.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 476 shares of the technology company’s stock after selling 151 shares during the period. Private Trust Co. NA’s holdings in CoStar Group were worth $38,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. GAMMA Investing LLC lifted its stake in CoStar Group by 28.3% during the first quarter. GAMMA Investing LLC now owns 6,335 shares of the technology company’s stock worth $502,000 after purchasing an additional 1,397 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in CoStar Group by 6.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,131 shares of the technology company’s stock worth $3,021,000 after purchasing an additional 2,241 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in CoStar Group by 115.7% during the first quarter. Golden State Wealth Management LLC now owns 6,870 shares of the technology company’s stock worth $544,000 after purchasing an additional 3,685 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in CoStar Group by 7.1% during the first quarter. Perigon Wealth Management LLC now owns 5,681 shares of the technology company’s stock worth $450,000 after purchasing an additional 376 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in CoStar Group by 371.9% during the first quarter. Sequoia Financial Advisors LLC now owns 46,073 shares of the technology company’s stock worth $3,650,000 after purchasing an additional 36,310 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Up 0.3%

Shares of NASDAQ:CSGP opened at $77.89 on Friday. The firm has a market cap of $33.00 billion, a P/E ratio of 311.56, a P/E/G ratio of 3.65 and a beta of 0.87. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 12-month low of $68.41 and a 12-month high of $97.43. The business has a fifty day simple moving average of $84.24 and a 200 day simple moving average of $82.68.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.CoStar Group’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. Analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the transaction, the chief accounting officer directly owned 25,771 shares of the company’s stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total value of $2,330,750.00. Following the transaction, the insider directly owned 319,539 shares of the company’s stock, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CSGP. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of CoStar Group in a research note on Thursday, October 9th. Wells Fargo & Company reiterated an “underweight” rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. BTIG Research began coverage on CoStar Group in a research note on Friday, October 3rd. They issued a “neutral” rating for the company. Robert W. Baird increased their price target on CoStar Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Finally, BMO Capital Markets increased their price target on CoStar Group from $82.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.15.

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.