IVC Wealth Advisors LLC Sells 2,022 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

IVC Wealth Advisors LLC trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,622 shares of the technology company’s stock after selling 2,022 shares during the quarter. IVC Wealth Advisors LLC’s holdings in CoStar Group were worth $617,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC increased its position in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the period. Ashton Thomas Securities LLC bought a new stake in CoStar Group during the 3rd quarter worth approximately $40,000. Quarry LP purchased a new stake in CoStar Group in the 2nd quarter worth approximately $54,000. Brooklyn Investment Group bought a new position in CoStar Group in the 3rd quarter valued at $91,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after purchasing an additional 488 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Trading Up 0.5 %

Shares of CSGP stock opened at $74.38 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The business has a 50-day moving average of $74.57 and a 200 day moving average of $75.34. The stock has a market capitalization of $30.49 billion, a PE ratio of 169.05 and a beta of 0.85. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSGP. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. BMO Capital Markets cut their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research note on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.92.

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.