Private Trust Co. NA Has $38,000 Position in CoStar Group, Inc. $CSGP

Private Trust Co. NA reduced its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 24.1% in the second quarter, HoldingsChannel.com reports. The fund owned 476 shares of the technology company’s stock after selling 151 shares during the quarter. Private Trust Co. NA’s holdings in CoStar Group were worth $38,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Mizuho Markets Americas LLC bought a new stake in CoStar Group in the 1st quarter valued at about $586,403,000. Vanguard Group Inc. increased its position in CoStar Group by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company’s stock valued at $5,421,448,000 after buying an additional 2,709,320 shares in the last quarter. Third Point LLC bought a new stake in CoStar Group in the 1st quarter valued at about $156,479,000. Nuveen LLC bought a new stake in CoStar Group in the 1st quarter valued at about $82,756,000. Finally, Kensico Capital Management Corp increased its position in CoStar Group by 86.0% in the 1st quarter. Kensico Capital Management Corp now owns 1,331,300 shares of the technology company’s stock valued at $105,479,000 after buying an additional 615,500 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the transaction, the insider owned 319,539 shares of the company’s stock, valued at $29,790,620.97. This trade represents a 7.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,033 shares of company stock worth $4,777,764. Insiders own 1.09% of the company’s stock.

CoStar Group Price Performance

CSGP stock opened at $77.89 on Friday. The company has a market capitalization of $33.00 billion, a P/E ratio of 311.56, a price-to-earnings-growth ratio of 3.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. CoStar Group, Inc. has a 52-week low of $68.41 and a 52-week high of $97.43. The business has a 50-day simple moving average of $84.24 and a two-hundred day simple moving average of $82.68.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. Research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on CSGP. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, July 23rd. BTIG Research began coverage on CoStar Group in a research report on Friday, October 3rd. They issued a “neutral” rating for the company. Wolfe Research began coverage on CoStar Group in a research report on Wednesday, September 3rd. They issued an “outperform” rating and a $105.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on CoStar Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on CoStar Group from $87.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.15.

CoStar Group Company 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.