CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 50.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,061 shares of the technology company's stock after selling 32,060 shares during the period. Tredje AP fonden's holdings in CoStar Group were worth $2,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CSGP. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the 3rd quarter valued at about $40,000. Apollon Wealth Management LLC acquired a new stake in CoStar Group in the 3rd quarter valued at about $278,000. GSA Capital Partners LLP acquired a new stake in CoStar Group in the 3rd quarter valued at about $230,000. Sumitomo Mitsui Trust Group Inc. grew its stake in CoStar Group by 2.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 974,084 shares of the technology company's stock valued at $73,485,000 after acquiring an additional 23,825 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in CoStar Group by 3.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,912 shares of the technology company's stock valued at $2,634,000 after acquiring an additional 1,150 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSGP shares. Craig Hallum began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Citigroup decreased their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

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Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.57% of the company's stock.

CoStar Group Trading Down 2.2 %

NASDAQ CSGP traded down $1.79 during mid-day trading on Tuesday, hitting $78.36. The company's stock had a trading volume of 2,733,748 shares, compared to its average volume of 2,547,931. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The stock's fifty day simple moving average is $75.50 and its two-hundred day simple moving average is $75.68. 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 firm has a market capitalization of $32.14 billion, a P/E ratio of 223.89 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted 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 firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

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.