New York State Teachers Retirement System Sells 8,346 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

New York State Teachers Retirement System lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,579 shares of the technology company's stock after selling 8,346 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of CoStar Group worth $23,666,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSGP. Creative Planning raised its holdings in shares of CoStar Group by 27.9% during the third quarter. Creative Planning now owns 31,828 shares of the technology company's stock worth $2,401,000 after acquiring an additional 6,939 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of CoStar Group by 155.5% during the third quarter. Vontobel Holding Ltd. now owns 13,289 shares of the technology company's stock worth $1,003,000 after acquiring an additional 8,087 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company's stock worth $652,000 after acquiring an additional 138 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of CoStar Group by 11.4% during the third quarter. V Square Quantitative Management LLC now owns 4,207 shares of the technology company's stock worth $317,000 after acquiring an additional 432 shares in the last quarter. Finally, Generate Investment Management Ltd purchased a new stake in shares of CoStar Group during the third quarter worth $4,688,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now directly owns 58,798 shares of the company's stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CSGP shares. JPMorgan Chase & Co. cut their price objective on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday. Keefe, Bruyette & Woods cut their price objective on CoStar Group from $96.00 to $93.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. Stephens reissued an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday. BMO Capital Markets lowered 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 report on Thursday, October 24th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $83.00 target price on shares of CoStar Group in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.15.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded up $3.75 during midday trading on Wednesday, hitting $79.21. The company's stock had a trading volume of 7,407,824 shares, compared to its average volume of 2,696,832. The stock has a market capitalization of $32.47 billion, a price-to-earnings 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, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly 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 company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

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

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.