Wellington Management Group LLP Has $26.23 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Wellington Management Group LLP cut its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 42.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,693 shares of the technology company's stock after selling 254,349 shares during the quarter. Wellington Management Group LLP owned approximately 0.08% of CoStar Group worth $26,230,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSGP. Ashton Thomas Securities LLC bought a new position in CoStar Group in the 3rd quarter valued at about $40,000. Industrial Alliance Investment Management Inc. bought a new position in shares of CoStar Group during the second quarter worth approximately $49,000. Quarry LP acquired a new stake in CoStar Group during the 2nd quarter worth approximately $54,000. Rothschild Investment LLC bought a new stake in CoStar Group in the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. grew its holdings in CoStar Group by 493.4% in the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company's stock valued at $80,000 after buying an additional 898 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CSGP shares. JPMorgan Chase & Co. dropped their target price on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. StockNews.com cut shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. JMP Securities restated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Royal Bank of Canada downgraded shares of CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Price Performance

NASDAQ:CSGP traded down $3.18 during trading hours on Friday, hitting $75.07. The company's stock had a trading volume of 2,325,172 shares, compared to its average volume of 2,380,497. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock has a fifty day simple moving average of $76.45 and a 200-day simple moving average of $76.03. The company has a market capitalization of $30.78 billion, a P/E ratio of 170.62 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

CoStar Group 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.