UniSuper Management Pty Ltd Sells 17,769 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

UniSuper Management Pty Ltd trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 31.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,226 shares of the technology company’s stock after selling 17,769 shares during the period. UniSuper Management Pty Ltd’s holdings in CoStar Group were worth $2,808,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSGP. Cerity Partners LLC increased its holdings in CoStar Group by 101.1% in the 3rd quarter. Cerity Partners LLC now owns 14,553 shares of the technology company’s stock worth $1,098,000 after acquiring an additional 7,317 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of CoStar Group by 2.9% in the third quarter. The Manufacturers Life Insurance Company now owns 289,470 shares of the technology company’s stock worth $21,838,000 after purchasing an additional 8,169 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of CoStar Group by 11.9% in the third quarter. D.A. Davidson & CO. now owns 27,914 shares of the technology company’s stock valued at $2,106,000 after purchasing an additional 2,966 shares during the period. Townsquare Capital LLC lifted its stake in shares of CoStar Group by 12.5% during the 3rd quarter. Townsquare Capital LLC now owns 9,359 shares of the technology company’s stock valued at $706,000 after buying an additional 1,040 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in CoStar Group by 107.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 77,906 shares of the technology company’s stock worth $5,877,000 after buying an additional 40,404 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group began coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Citigroup decreased their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.07.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.57% of the stock is owned by insiders.

CoStar Group Stock Performance

NASDAQ CSGP opened at $79.31 on Friday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $96.98. The company has a fifty day moving average of $76.96 and a 200-day moving average of $75.81. The company has a market capitalization of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.