Procyon Advisors LLC Sells 2,656 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Procyon Advisors LLC decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,524 shares of the technology company’s stock after selling 2,656 shares during the period. Procyon Advisors LLC’s holdings in CoStar Group were worth $1,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in CoStar Group by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,697,933 shares of the technology company’s stock valued at $125,889,000 after purchasing an additional 219,758 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $1,192,000. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of CoStar Group by 20.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,960 shares of the technology company’s stock valued at $516,000 after buying an additional 1,201 shares in the last quarter. Elo Mutual Pension Insurance Co increased its holdings in CoStar Group by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares during the last quarter. Finally, MQS Management LLC bought a new stake in CoStar Group during the second quarter worth $207,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was 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 directly 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were 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 directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Up 0.6 %

CSGP opened at $73.85 on Friday. The stock has a fifty day moving average of $74.74 and a 200-day moving average of $75.33. The company has a market capitalization of $30.28 billion, a P/E ratio of 167.84 and a beta of 0.85. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

CSGP has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Citigroup lowered their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. BMO Capital Markets decreased their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, William Blair restated an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $92.92.

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.