Los Angeles Capital Management LLC Cuts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Los Angeles Capital Management LLC trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,818 shares of the technology company’s stock after selling 130 shares during the period. Los Angeles Capital Management LLC’s holdings in CoStar Group were worth $3,392,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CSGP. KB Financial Partners LLC boosted its stake in shares of CoStar Group by 17.9% in the 3rd quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after purchasing an additional 124 shares in the last quarter. Wealth Alliance increased its holdings in shares of CoStar Group by 3.0% in the fourth quarter. Wealth Alliance now owns 4,539 shares of the technology company’s stock worth $397,000 after buying an additional 132 shares during the period. Keybank National Association OH lifted its stake in shares of CoStar Group by 0.6% in the 3rd quarter. Keybank National Association OH now owns 21,159 shares of the technology company’s stock valued at $1,627,000 after acquiring an additional 133 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in CoStar Group by 2.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 4,978 shares of the technology company’s stock valued at $383,000 after acquiring an additional 135 shares during the period. Finally, Certuity LLC increased its stake in CoStar Group by 4.8% in the 3rd quarter. Certuity LLC now owns 3,257 shares of the technology company’s stock worth $250,000 after purchasing an additional 149 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CSGP opened at $91.23 on Monday. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The business’s fifty day simple moving average is $90.60 and its two-hundred day simple moving average is $85.19. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $37.25 billion, a price-to-earnings ratio of 124.97, a P/E/G ratio of 10.21 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. CoStar Group’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Research analysts anticipate that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts recently commented on CSGP shares. Needham & Company LLC lifted their target price on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. BMO Capital Markets raised their target price on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods upped their target price 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.46.

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.