CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 20.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,365,508 shares of the technology company’s stock after selling 354,405 shares during the quarter. Westfield Capital Management Co. LP’s holdings in CoStar Group were worth $103,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the 3rd quarter worth about $40,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of CoStar Group in the second quarter worth approximately $49,000. Quarry LP purchased a new stake in shares of CoStar Group during the second quarter worth approximately $54,000. Rothschild Investment LLC acquired a new position in CoStar Group in the 2nd quarter valued at $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 valued at $80,000 after purchasing an additional 898 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CSGP stock opened at $79.81 on Friday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. 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 stock has a market cap of $32.72 billion, a price-to-earnings ratio of 181.39 and a beta of 0.82. The business has a fifty day moving average of $75.49 and a two-hundred day moving average of $76.88.

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

Analysts Set New Price Targets

CSGP has been the subject of a number of research reports. 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 report on Thursday, October 24th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. JPMorgan Chase & Co. dropped their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Transactions at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction 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 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 directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale 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.