Rhumbline Advisers Sells 7,532 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Rhumbline Advisers decreased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 713,619 shares of the technology company's stock after selling 7,532 shares during the quarter. Rhumbline Advisers owned 0.17% of CoStar Group worth $51,088,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSGP. ORG Partners LLC boosted its holdings in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after purchasing an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group during the 4th quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock worth $37,000 after buying an additional 513 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group in the 3rd quarter valued at about $40,000. Finally, CENTRAL TRUST Co increased its position in shares of CoStar Group by 1,825.5% in the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company's stock valued at $70,000 after acquiring an additional 931 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.57% of the company's stock.

CoStar Group Stock Performance

NASDAQ CSGP traded down $1.54 on Friday, reaching $76.79. The stock had a trading volume of 4,667,016 shares, compared to its average volume of 2,816,777. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a market cap of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87. The firm has a fifty day moving average of $73.83 and a two-hundred day moving average of $75.39. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has authorized a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSGP. Needham & Company LLC decreased their price target on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday. William Blair reissued an "outperform" rating on shares of CoStar Group in a report on Wednesday. JMP Securities restated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. BMO Capital Markets dropped their price target on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup decreased their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

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.