Quantinno Capital Management LP Sells 818 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Posted by Defense World Staff on Jul 30th, 2023

Quantinno Capital Management LP lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,418 shares of the technology company’s stock after selling 818 shares during the quarter. Quantinno Capital Management LP’s holdings in CoStar Group were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. American Capital Management Inc. grew its stake in CoStar Group by 3.6% in the 1st quarter. American Capital Management Inc. now owns 841,480 shares of the technology company’s stock valued at $57,936,000 after purchasing an additional 29,334 shares during the period. Tobam lifted its position in shares of CoStar Group by 21.9% during the 1st quarter. Tobam now owns 2,676 shares of the technology company’s stock valued at $184,000 after buying an additional 481 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in shares of CoStar Group during the 1st quarter valued at $233,000. Venturi Wealth Management LLC purchased a new position in shares of CoStar Group during the 1st quarter valued at $111,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of CoStar Group by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 53,757 shares of the technology company’s stock valued at $3,701,000 after buying an additional 1,416 shares during the last quarter. Institutional investors own 93.86% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $81.68 on Friday. The firm has a market capitalization of $33.37 billion, a P/E ratio of 85.98, a P/E/G ratio of 3.75 and a beta of 0.90. The company has a quick ratio of 13.21, a current ratio of 12.30 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $85.01 and its two-hundred day simple moving average is $77.29. CoStar Group, Inc. has a twelve month low of $65.12 and a twelve month high of $92.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSGP. Needham & Company LLC upped their price target on CoStar Group from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. TheStreet raised CoStar Group from a “c+” rating to a “b” rating in a report on Tuesday. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday. Bank of America dropped their price objective on CoStar Group from $104.00 to $101.00 in a report on Wednesday. Finally, Truist Financial increased their price objective on CoStar Group from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $90.75.

Insiders Place Their Bets

In other CoStar Group news, CFO Scott T. Wheeler sold 24,670 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.68, for a total value of $1,990,375.60. Following the transaction, the chief financial officer now directly owns 346,244 shares in the company, valued at approximately $27,934,965.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Lisa Ruggles sold 30,474 shares of the stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $91.42, for a total transaction of $2,785,933.08. Following the transaction, the vice president now directly owns 156,208 shares in the company, valued at approximately $14,280,535.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott T. Wheeler sold 24,670 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.68, for a total value of $1,990,375.60. Following the transaction, the chief financial officer now owns 346,244 shares in the company, valued at $27,934,965.92. The disclosure for this sale can be found here. Insiders have sold 170,474 shares of company stock worth $15,103,488 in the last ninety days. 1.58% of the stock is currently owned by insiders.

CoStar Group Company Profile

(Free Report)

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.