First Horizon Advisors Inc. Decreases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

First Horizon Advisors Inc. cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,229 shares of the technology company’s stock after selling 284 shares during the quarter. First Horizon Advisors Inc.’s holdings in CoStar Group were worth $195,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CSGP. Principal Financial Group Inc. raised its holdings in shares of CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after buying an additional 761,383 shares during the period. Bamco Inc. NY lifted its position in shares of CoStar Group by 0.5% during the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock worth $1,476,019,000 after purchasing an additional 91,399 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of CoStar Group by 5.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after purchasing an additional 596,595 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of CoStar Group by 6.1% in the third quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock worth $428,256,000 after purchasing an additional 319,960 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in CoStar Group by 6.4% in the 3rd quarter. Blair William & Co. IL now owns 4,191,009 shares of the technology company’s stock worth $322,247,000 after buying an additional 251,182 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CSGP shares. BMO Capital Markets boosted their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Bank of America lifted their target price on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada increased their price target on CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. Insiders own 1.58% of the company’s stock.

CoStar Group Trading Up 1.6 %

NASDAQ:CSGP opened at $91.23 on Monday. The stock has a market capitalization of $37.25 billion, a price-to-earnings ratio of 124.97, a PEG ratio of 10.21 and a beta of 0.84. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $90.60 and a 200 day moving average of $85.19.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

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.