New York Life Investment Management LLC Cuts Position in CoStar Group, Inc. (NASDAQ:CSGP)

New York Life Investment Management LLC decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,776 shares of the technology company’s stock after selling 414 shares during the quarter. New York Life Investment Management LLC’s holdings in CoStar Group were worth $5,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Mather Group LLC. purchased a new position in shares of CoStar Group in the fourth quarter valued at $211,000. Gilbert & Cook Inc. lifted its position in CoStar Group by 14.3% during the fourth quarter. Gilbert & Cook Inc. now owns 14,571 shares of the technology company’s stock valued at $1,273,000 after purchasing an additional 1,824 shares during the last quarter. Monumental Financial Group Inc. increased its holdings in shares of CoStar Group by 2.6% in the 4th quarter. Monumental Financial Group Inc. now owns 12,890 shares of the technology company’s stock worth $1,126,000 after buying an additional 326 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of CoStar Group by 6.9% in the 4th quarter. Motley Fool Asset Management LLC now owns 11,223 shares of the technology company’s stock worth $981,000 after buying an additional 722 shares during the last quarter. Finally, Sandhill Capital Partners LLC raised its position in shares of CoStar Group by 1.6% during the 4th quarter. Sandhill Capital Partners LLC now owns 339,446 shares of the technology company’s stock valued at $29,664,000 after buying an additional 5,465 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CSGP. Royal Bank of Canada lifted 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. BTIG Research initiated coverage on CoStar Group in a report on Friday, January 19th. They set a “neutral” rating on the stock. BMO Capital Markets lifted their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. The Goldman Sachs Group increased their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Robert W. Baird lifted their price target on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $102.46.

Insider Transactions at CoStar Group

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

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $91.23 on Friday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a market cap of $37.25 billion, a PE ratio of 124.97, a P/E/G ratio of 10.05 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. The business has a 50-day simple moving average of $90.47 and a two-hundred day simple moving average of $85.03.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share 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 business had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

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.