TimesSquare Capital Management LLC Sells 65,380 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

TimesSquare Capital Management LLC trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 668,986 shares of the technology company's stock after selling 65,380 shares during the period. TimesSquare Capital Management LLC owned 0.16% of CoStar Group worth $47,893,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC grew its position in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after acquiring an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of CoStar Group by 17,100.0% in the fourth 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 acquired a new stake in shares of CoStar Group in the third quarter worth $40,000. Finally, CENTRAL TRUST Co lifted its stake 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 worth $70,000 after buying an additional 931 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Price Performance

Shares of CSGP stock traded down $1.54 during mid-day trading on Friday, reaching $76.79. The company's stock had a trading volume of 4,667,016 shares, compared to its average volume of 2,816,777. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a market cap of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The firm's 50-day moving average is $73.83 and its two-hundred day moving average is $75.39.

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, meeting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. On average, research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share 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 repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday. BMO Capital Markets reduced their price objective 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. Needham & Company LLC reduced their price objective 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. William Blair reiterated an "outperform" rating on shares of CoStar Group in a research note on Wednesday. Finally, JMP Securities reiterated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

CoStar Group Company 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.