Telemark Asset Management LLC Sells 100,000 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Telemark Asset Management LLC decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 20.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the technology company's stock after selling 100,000 shares during the quarter. CoStar Group comprises 2.9% of Telemark Asset Management LLC's holdings, making the stock its 8th biggest position. Telemark Asset Management LLC owned approximately 0.10% of CoStar Group worth $28,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Barclays PLC increased its holdings in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. increased 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 valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. State Street Corp increased 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 valued at $1,286,987,000 after buying an additional 722,153 shares in the last quarter. Amundi increased its holdings in CoStar Group by 30.1% in the fourth quarter. Amundi now owns 2,810,540 shares of the technology company's stock valued at $200,504,000 after buying an additional 650,454 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in CoStar Group in the third quarter valued at $48,768,000. Institutional investors and hedge funds own 96.60% of the company's stock.

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CoStar Group Stock Up 4.4 %

Shares of CoStar Group stock traded up $3.29 during trading hours on Friday, hitting $78.73. The company had a trading volume of 2,874,362 shares, compared to its average volume of 3,343,156. The company's 50-day moving average is $75.32 and its two-hundred day moving average is $75.66. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. 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 $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93.

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 the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of research firms have weighed in on CSGP. Citigroup cut their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating and a $89.00 target price on the stock. William Blair started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 19th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is owned by insiders.

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.