CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 22.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 258,480 shares of the technology company’s stock after selling 73,492 shares during the period. New York State Common Retirement Fund’s holdings in CoStar Group were worth $18,505,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CSGP. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the third quarter valued at approximately $40,000. JPMorgan Chase & Co. boosted its holdings in shares of CoStar Group by 73.8% in the 3rd 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 in the last quarter. Telemark Asset Management LLC boosted its holdings in shares of CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after buying an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after acquiring an additional 14,468 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in CoStar Group in the third quarter valued at $621,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSGP. 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. Wells Fargo & Company decreased their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday. Needham & Company LLC decreased their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

CoStar Group Price Performance

CoStar Group stock opened at $76.79 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The business has a fifty day moving average of $73.86 and a two-hundred day moving average of $75.42. The company has a market cap of $31.48 billion, a P/E ratio of 219.40 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $703.00 million. As a group, analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a share 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 buy 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 stock is undervalued.

About CoStar Group

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.