Clearbridge Investments LLC Lowers Position in CoStar Group, Inc. (NASDAQ:CSGP)

Clearbridge Investments LLC lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 521,039 shares of the technology company’s stock after selling 10,120 shares during the period. Clearbridge Investments LLC owned approximately 0.13% of CoStar Group worth $45,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd bought a new position in CoStar Group during the 3rd quarter worth approximately $459,000. US Bancorp DE grew its position in CoStar Group by 2.8% during the 3rd quarter. US Bancorp DE now owns 94,272 shares of the technology company’s stock worth $7,249,000 after acquiring an additional 2,544 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in CoStar Group by 3.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 116,318 shares of the technology company’s stock worth $8,944,000 after acquiring an additional 4,371 shares during the last quarter. STF Management LP grew its position in shares of CoStar Group by 161.1% in the 3rd quarter. STF Management LP now owns 6,661 shares of the technology company’s stock worth $512,000 after buying an additional 4,110 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of CoStar Group by 7.5% in the 3rd quarter. Corient Private Wealth LLC now owns 293,750 shares of the technology company’s stock worth $22,591,000 after buying an additional 20,512 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group 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 sale, the chief financial officer now owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group 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 sale, the chief financial officer now owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Up 0.4 %

CoStar Group stock opened at $87.19 on Thursday. The firm has a market cap of $35.60 billion, a price-to-earnings ratio of 119.44, a PEG ratio of 12.93 and a beta of 0.84. The stock has a fifty day simple moving average of $91.20 and a two-hundred day simple moving average of $86.56. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $656.40 million during the quarter, compared to analyst estimates of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. Equities analysts predict that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CSGP shares. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Royal Bank of Canada lifted their price objective on CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. BMO Capital Markets raised their target price on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Stephens restated an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group raised their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently 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.