Institute for Wealth Management LLC. Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Institute for Wealth Management LLC. trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 22.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,547 shares of the technology company’s stock after selling 5,106 shares during the period. Institute for Wealth Management LLC.’s holdings in CoStar Group were worth $1,256,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CSGP. State Street Corp grew its holdings in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CoStar Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CoStar Group by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after purchasing an additional 76,916 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares during the last quarter. Finally, Barclays PLC raised its stake in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. 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. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. Citigroup dropped their target price on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.33.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $76.52 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a 50-day simple moving average of $74.75 and a 200-day simple moving average of $75.41. The stock has a market capitalization of $31.37 billion, a price-to-earnings ratio of 173.91 and a beta of 0.85.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.57% of the stock is owned by company 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.