Sandhill Capital Partners LLC Sells 48,510 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Sandhill Capital Partners LLC trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,371 shares of the technology company's stock after selling 48,510 shares during the period. CoStar Group accounts for 1.1% of Sandhill Capital Partners LLC's portfolio, making the stock its 24th largest holding. Sandhill Capital Partners LLC's holdings in CoStar Group were worth $13,629,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Polen Capital Management LLC purchased a new stake in shares of CoStar Group during the 4th quarter worth approximately $465,134,000. Norges Bank purchased a new stake in CoStar Group during the fourth quarter valued at $390,755,000. Barclays PLC raised its stake in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. lifted its position in CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company's stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. Finally, DF Dent & Co. Inc. grew its stake in shares of CoStar Group by 38.5% in the 4th quarter. DF Dent & Co. Inc. now owns 2,456,562 shares of the technology company's stock worth $175,865,000 after buying an additional 682,984 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction 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

CSGP has been the subject of a number of analyst reports. Stephens reaffirmed an "overweight" rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. JMP Securities restated a "market outperform" rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Wells Fargo & Company dropped their target price on CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price target on CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CoStar Group presently has an average rating of "Moderate Buy" and a consensus price target of $87.54.

CoStar Group Trading Up 2.6 %

CSGP stock traded up $1.97 during mid-day trading on Friday, reaching $77.39. The company had a trading volume of 2,224,793 shares, compared to its average volume of 2,739,405. The company has a market capitalization of $31.74 billion, a PE ratio of 221.11 and a beta of 0.88. The firm has a 50 day moving average of $77.23 and a 200 day moving average of $75.77. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $93.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

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

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