Voya Investment Management LLC Sells 1,116,429 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Voya Investment Management LLC lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 42.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,487,054 shares of the technology company's stock after selling 1,116,429 shares during the quarter. Voya Investment Management LLC owned 0.36% of CoStar Group worth $106,458,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company's stock valued at $144,000 after acquiring an additional 173 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company's stock worth $557,000 after purchasing an additional 176 shares during the last quarter. Moran Wealth Management LLC grew its position in CoStar Group by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after purchasing an additional 180 shares during the period. FWG Holdings LLC raised its stake in CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company's stock valued at $494,000 after buying an additional 219 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company's stock valued at $317,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CSGP shares. Royal Bank of Canada restated a "sector perform" rating and set a $83.00 target price on shares of CoStar Group in a research report on Thursday, April 17th. William Blair started coverage on CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating for the company. Needham & Company LLC cut their price objective on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price objective on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $87.54.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company's stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded down $1.08 during mid-day trading on Monday, hitting $81.74. 3,945,069 shares of the company's stock traded hands, compared to its average volume of 2,745,340. 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, Inc. has a 1 year low of $68.26 and a 1 year high of $93.29. The company's 50-day moving average is $78.20 and its two-hundred day moving average is $76.17. The company has a market capitalization of $33.52 billion, a P/E ratio of 233.54 and a beta of 0.88.

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

CoStar Group announced that its board has authorized a stock repurchase program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are 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.