Telemark Asset Management LLC Sells 100,000 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Telemark Asset Management LLC cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 20.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 400,000 shares of the technology company’s stock after selling 100,000 shares during the quarter. CoStar Group makes up approximately 2.9% of Telemark Asset Management LLC’s holdings, making the stock its 8th biggest holding. Telemark Asset Management LLC’s holdings in CoStar Group were worth $28,636,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its stake in CoStar Group by 410.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,007 shares of the technology company’s stock valued at $2,864,000 after buying an additional 32,165 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in CoStar Group in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC raised its position in CoStar Group by 77.1% in the fourth quarter. Farther Finance Advisors LLC now owns 850 shares of the technology company’s stock valued at $61,000 after purchasing an additional 370 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in CoStar Group by 723.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,717 shares of the technology company’s stock valued at $195,000 after purchasing an additional 2,387 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in CoStar Group by 31.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,763 shares of the technology company’s stock valued at $699,000 after purchasing an additional 2,328 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Down 0.0 %

CSGP opened at $76.86 on Thursday. The business has a 50 day simple moving average of $75.10 and a two-hundred day simple moving average of $75.67. The firm has a market capitalization of $31.52 billion, a price-to-earnings ratio of 219.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. Analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have commented on CSGP shares. Wells Fargo & Company dropped their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, Craig Hallum initiated coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

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.