CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,851 shares of the technology company's stock after selling 4,598 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of CoStar Group worth $15,596,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSGP. Creative Planning boosted its stake in CoStar Group by 27.9% in the third quarter. Creative Planning now owns 31,828 shares of the technology company's stock valued at $2,401,000 after acquiring an additional 6,939 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in CoStar Group by 155.5% in the third quarter. Vontobel Holding Ltd. now owns 13,289 shares of the technology company's stock valued at $1,003,000 after acquiring an additional 8,087 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in CoStar Group by 1.6% in the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company's stock valued at $652,000 after acquiring an additional 138 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in CoStar Group by 11.4% in the third quarter. V Square Quantitative Management LLC now owns 4,207 shares of the technology company's stock valued at $317,000 after acquiring an additional 432 shares in the last quarter. Finally, Generate Investment Management Ltd acquired a new position in CoStar Group in the third quarter valued at $4,688,000. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Price Performance

CoStar Group stock traded up $3.75 during mid-day trading on Wednesday, reaching $79.21. The company had a trading volume of 7,407,607 shares, compared to its average volume of 2,692,833. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. 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 company has a market capitalization of $32.47 billion, a P/E ratio of 180.03 and a beta of 0.87. The stock's 50-day simple moving average is $73.79 and its 200-day simple moving average is $75.34.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. On average, equities analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

CoStar Group declared that its Board of Directors has authorized a stock 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. Finally, William Blair reiterated an "outperform" rating on shares of CoStar Group in a research note on Wednesday. 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.15.

Insider Buying and Selling at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group 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 directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

About CoStar Group

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.