Steph & Co. Sells 187 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Steph & Co. reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,546 shares of the technology company’s stock after selling 187 shares during the period. Steph & Co.’s holdings in CoStar Group were worth $182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. S.E.E.D. Planning Group LLC raised its position in shares of CoStar Group by 7.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 48,345 shares of the technology company’s stock worth $3,461,000 after acquiring an additional 3,184 shares during the last quarter. Park Avenue Securities LLC raised its holdings in CoStar Group by 1.9% during the 4th quarter. Park Avenue Securities LLC now owns 29,073 shares of the technology company’s stock worth $2,081,000 after purchasing an additional 542 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of CoStar Group by 39.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,366 shares of the technology company’s stock worth $28,734,000 after purchasing an additional 113,925 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of CoStar Group by 40.1% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,480 shares of the technology company’s stock worth $464,000 after purchasing an additional 1,854 shares during the period. Finally, Czech National Bank boosted its stake in shares of CoStar Group by 6.5% in the 4th quarter. Czech National Bank now owns 88,888 shares of the technology company’s stock valued at $6,363,000 after purchasing an additional 5,404 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CSGP. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research note on Friday, January 10th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday. JMP Securities restated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup dropped their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.92.

CoStar Group Stock Performance

Shares of CSGP stock opened at $73.22 on Thursday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The firm has a market capitalization of $30.02 billion, a PE ratio of 166.41 and a beta of 0.85. The firm has a fifty day simple moving average of $74.83 and a two-hundred day simple moving average of $75.36. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. Analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

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.