Baillie Gifford & Co. Reduces Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Baillie Gifford & Co. lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,911,598 shares of the technology company's stock after selling 887,533 shares during the period. Baillie Gifford & Co. owned about 1.93% of CoStar Group worth $566,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CSGP. Barclays PLC lifted its holdings in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after acquiring an additional 1,073,793 shares during the period. JPMorgan Chase & Co. grew its holdings in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the period. State Street Corp grew its holdings in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company's stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the period. Point72 Asset Management L.P. bought a new position in shares of CoStar Group in the third quarter valued at $48,768,000. Finally, Icon Wealth Advisors LLC lifted its stake in shares of CoStar Group by 8,314.1% in the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company's stock valued at $30,925,000 after buying an additional 405,062 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.57% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CSGP shares. JMP Securities reissued a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. Finally, Stephens reiterated an "overweight" rating and issued a $103.00 target price on shares of CoStar Group in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded down $0.87 during midday trading on Thursday, hitting $78.35. The company's stock had a trading volume of 4,804,679 shares, compared to its average volume of 2,760,711. The stock has a fifty day moving average price of $73.82 and a 200 day moving average price of $75.37. The firm has a market capitalization of $32.12 billion, a price-to-earnings ratio of 223.84 and a beta of 0.87. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.13%. On average, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

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.