Mercer Global Advisors Inc. ADV Sells 3,010 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Mercer Global Advisors Inc. ADV trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 26.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,174 shares of the technology company’s stock after selling 3,010 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in CoStar Group were worth $632,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CSGP. Raymond James Financial Services Advisors Inc. increased its holdings in CoStar Group by 111.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,683 shares of the technology company’s stock valued at $1,045,000 after buying an additional 8,253 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in CoStar Group by 504.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,874 shares of the technology company’s stock valued at $125,000 after buying an additional 1,564 shares during the period. MetLife Investment Management LLC purchased a new position in CoStar Group during the first quarter valued at approximately $1,427,000. Panagora Asset Management Inc. increased its holdings in CoStar Group by 10.6% during the first quarter. Panagora Asset Management Inc. now owns 12,007 shares of the technology company’s stock valued at $800,000 after buying an additional 1,152 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in CoStar Group by 32.3% during the first quarter. Raymond James Trust N.A. now owns 5,884 shares of the technology company’s stock valued at $392,000 after buying an additional 1,435 shares during the period. 97.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $85.00 price target on shares of CoStar Group in a research report on Wednesday, February 22nd. Truist Financial dropped their target price on CoStar Group from $95.00 to $85.00 in a research note on Wednesday, February 22nd. The Goldman Sachs Group dropped their target price on CoStar Group from $102.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Needham & Company LLC boosted their target price on CoStar Group from $80.00 to $90.00 in a research note on Wednesday, April 26th. Finally, BMO Capital Markets dropped their target price on CoStar Group from $84.00 to $68.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 22nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $87.08.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,600 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $70.36, for a total value of $394,016.00. Following the completion of the transaction, the insider now owns 44,846 shares of the company’s stock, valued at approximately $3,155,364.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.42% of the company’s stock.

CoStar Group Stock Up 0.6 %

CoStar Group stock opened at $78.50 on Friday. The company has a market cap of $32.07 billion, a PE ratio of 86.26, a PEG ratio of 3.65 and a beta of 0.88. The business’s 50-day simple moving average is $70.84 and its two-hundred day simple moving average is $75.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.21 and a current ratio of 13.21. CoStar Group, Inc. has a fifty-two week low of $54.02 and a fifty-two week high of $85.37.

CoStar Group (NASDAQ:CSGP – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $573.35 million during the quarter, compared to analysts’ expectations of $567.96 million. CoStar Group had a return on equity of 6.73% and a net margin of 16.32%. Equities analysts anticipate that CoStar Group, Inc. will post 1.07 EPS for the current year.

About CoStar Group

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CoStar Group, Inc engages in providing online real estate marketplaces, information, and analytics in the commercial and residential property markets. It operates through the North America and International geographical segments. The North America segment includes the Unites States and Canada. The International refers to Europe, Asia-Pacific, and Latin America.