Pacer Advisors Inc. reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 25.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,044 shares of the technology company’s stock after selling 14,550 shares during the period. Pacer Advisors Inc.’s holdings in CoStar Group were worth $3,831,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of CoStar Group during the fourth quarter valued at $320,866,000. Brown Advisory Inc. raised its stake in shares of CoStar Group by 766.3% in the first quarter. Brown Advisory Inc. now owns 2,748,083 shares of the technology company’s stock worth $189,206,000 after buying an additional 2,430,849 shares during the period. Mackenzie Financial Corp raised its stake in shares of CoStar Group by 343.8% in the first quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock worth $194,074,000 after buying an additional 2,257,140 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CoStar Group by 43.4% in the first quarter. Bank of New York Mellon Corp now owns 5,212,851 shares of the technology company’s stock worth $358,905,000 after buying an additional 1,578,782 shares during the period. Finally, Capital International Investors bought a new position in shares of CoStar Group in the first quarter worth about $101,893,000. 96.53% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at CoStar Group
In other news, Director John W. Hill sold 1,500 shares of CoStar Group stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $86.57, for a total value of $129,855.00. Following the completion of the transaction, the director now owns 16,934 shares in the company, valued at approximately $1,465,976.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Lisa Ruggles sold 30,474 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 156,208 shares of the company’s stock, valued at approximately $14,280,535.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Hill sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $86.57, for a total value of $129,855.00. Following the sale, the director now directly owns 16,934 shares of the company’s stock, valued at $1,465,976.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,804 shares of company stock worth $13,113,112. 1.58% of the stock is currently owned by company insiders.
CoStar Group Stock Performance
CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its earnings results on Tuesday, July 25th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $605.91 million during the quarter, compared to analysts’ expectations of $607.49 million. CoStar Group had a return on equity of 6.61% and a net margin of 16.56%. On average, research analysts predict that CoStar Group, Inc. will post 1.09 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently commented on CSGP. JMP Securities began coverage on CoStar Group in a research note on Wednesday. They issued an “outperform” rating and a $100.00 price objective on the stock. Needham & Company LLC raised their price objective on CoStar Group from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. TheStreet cut CoStar Group from a “b” rating to a “c+” rating in a research report on Thursday, September 7th. Truist Financial increased their target price on CoStar Group from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Robert W. Baird cut their target price on CoStar Group from $100.00 to $98.00 in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $92.00.
Check Out Our Latest Stock Report on CoStar Group
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.
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